Why is Waaree Energies falling/rising?

As of 24-Sep, Waaree Energies Ltd's stock price is currently at Rs 3,492.00, reflecting an increase of Rs 57.3 or 1.67%. The stock has shown a trend reversal, gaining after two consecutive days of decline and outperforming its sector by 3.91%. Over the past week, the stock has decreased by 3.10%, but it has performed well over the past month with a rise of 9.53%. The company has demonstrated strong long-term fundamentals, evidenced by a robust average Return on Equity (ROE) of 23.17% and significant growth in net sales and operating profit. Additionally, institutional investors have increased their stake in the company, indicating confidence in its future performance.
In the broader market context, while Waaree Energies has outperformed the Sensex in the short term, the benchmark index has only declined by 1.18% over the past week. The renewable energy sector overall has faced a downturn, with a decrease of 2.19%. Despite this, Waaree Energies has maintained a strong position, being the largest company in its sector and constituting a significant portion of the industry. The stock's liquidity remains adequate, although there has been a notable decline in investor participation, with delivery volume falling by 39.12% compared to the five-day average. This combination of strong fundamentals and recent price movements contributes to the stock's rising trend despite broader sector challenges.