Why is Waaree Energies falling/rising?

As of 24-Jun, Waaree Energies Ltd is experiencing a price increase, currently at Rs 2,973.05, reflecting a rise of 45.6 points or 1.56%. The stock has shown strong performance today, outperforming its sector by 4.81% and reaching an intraday high of Rs 3,045, which is a 4.02% increase. Over the past week, the stock has gained 6.59%, and over the past month, it has risen by 7.47%. The company has demonstrated solid long-term fundamentals, with a strong average Return on Equity (ROE) of 23.17% and impressive growth in net sales and operating profit. However, there has been a notable decline in investor participation, with delivery volume dropping significantly compared to the five-day average.
In the broader market context, while Waaree Energies has outperformed the Sensex in the short term, with a 1-week return of 6.59% compared to the Sensex's 0.58%, the renewable energy sector overall has faced a decline of 3.22%. Despite this sector-wide downturn, Waaree Energies has maintained a positive trajectory, bolstered by its recent strong financial results and healthy growth metrics. The stock's liquidity remains adequate for trading, indicating that despite the sector's challenges, investor confidence in Waaree Energies appears robust.