Why is Waaree Energies falling/rising?

As of 15-Jul, Waaree Energies Ltd's stock price is currently at Rs 3,220.55, reflecting an increase of Rs 23.65, or 0.74%. The stock has shown a positive performance recently, gaining 3.48% over the last two days and outperforming the Sensex with a 1-week return of 4.99% compared to the benchmark's decline of 1.36%. The stock is trading above its moving averages across various timeframes, indicating a strong upward trend. Additionally, the company has demonstrated robust financial health, with a significant growth in net sales and operating profit, alongside an increase in institutional investor participation, which has likely contributed to the stock's upward movement.
In the broader market context, while the Sensex has experienced a slight increase of 1.79% over the past month, Waaree Energies has outperformed this benchmark with a 14.08% rise in the same period. This divergence suggests that the stock is gaining traction independently of broader market trends. The company's strong fundamentals, including a healthy return on equity and consistent positive quarterly results, further bolster investor confidence, despite concerns over its high valuation metrics. Overall, the combination of strong financial performance and increased institutional interest appears to be driving the stock's recent rise.