Why is Waaree Energies falling/rising?

As of 25-Jul, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 3,196.40, which reflects a decrease of Rs 46.65 or 1.44%. Despite this drop, the stock has shown positive performance over the past week and month, with returns of 2.39% and 8.66%, respectively. Today's price summary indicates that the stock has outperformed its sector by 0.91%, although it has fallen after three consecutive days of gains. The stock touched an intraday low of Rs 3,171, and it is trading above all key moving averages, suggesting underlying strength. Positive factors include strong long-term fundamentals, with a high return on equity and significant growth in net sales and operating profit, while the recent increase in institutional investor participation also supports the stock's outlook.
In the broader market context, while Waaree Energies has shown resilience with positive returns over the past week and month, the benchmark Sensex has declined by 0.36% and 1.56% in the same periods, indicating that the stock is outperforming the market. However, the renewable energy sector as a whole has faced a downturn of 2.28%, which may be contributing to the stock's recent price movement. The stock's valuation is considered expensive, which could be a factor in the current price decline, especially as it has generated no return over the past year despite significant profit growth.