Why is Veto Switchgears falling/rising?

As of 01-Jul, Veto Switchgears & Cables Ltd is experiencing a price increase, currently at Rs 132.15, reflecting a rise of 1.8 (1.38%). The stock has shown strong performance today, outperforming its sector by 1.19% and achieving a consecutive gain over the last two days with a total return of 5.21%. It reached an intraday high of Rs 135, although it also touched a low of Rs 127.1. The stock is trading above its moving averages across various time frames, indicating positive momentum. Additionally, the company has demonstrated robust financial health, with the highest quarterly net sales and operating profit margins, alongside a low Debt to EBITDA ratio, which supports its ability to service debt effectively. The stock's valuation remains attractive compared to peers, with a Price to Book Value of 0.9 and a PEG ratio of 0.5, suggesting that it is undervalued relative to its growth potential.
In the broader market context, Veto Switchgears has outperformed the benchmark Sensex in the short term, with a weekly return of 6.44% compared to the Sensex's 2.00%. However, over the past month, the stock has slightly underperformed with a return of -0.08% against the Sensex's 2.76%. Despite this, the stock's strong performance over the last three years, with a return of 61.06%, indicates a positive long-term trend. The significant increase in delivery volume by 405.63% on June 30 also points to rising investor participation, further supporting the stock's upward movement. Overall, the combination of solid financial results, attractive valuation, and positive investor sentiment contributes to the stock's rising price.