Why is Waaree Renewab. falling/rising?

As of 23-Jul, Waaree Renewable Technologies Ltd is experiencing a price increase, currently at 1,118.80, with a change of 16.45, representing a 1.49% rise. Today's price summary indicates that the stock has outperformed its sector by 1.8% and has gained after two consecutive days of decline. It opened with a gain of 2.5% and reached an intraday high of Rs 1132.2, although it also touched a low of Rs 1077. The stock's performance over the past week shows a decline of 7.04%, while it has increased by 13.27% over the past month. Despite a significant year-to-date drop of 16.68% and a one-year decline of 40.33%, the company has demonstrated strong financial health with impressive growth in net sales and profit, alongside a solid EBIT to interest ratio.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has seen a slight increase of 0.11% over the past week and a gain of 1.01% over the past month. The stock has underperformed the market over the last year, generating negative returns of 40.33% compared to the Sensex's 2.86% increase. The lack of domestic mutual fund investment, which stands at 0%, may indicate a lack of confidence in the stock's valuation, despite its strong growth metrics. The stock's high price-to-book value and expensive valuation compared to peers may also contribute to investor caution, even as the company continues to report positive financial results.