Why is Waaree Renewab. falling/rising?

As of 09-Sep, Waaree Renewable Technologies Ltd's stock price is currently at 1,039.20, reflecting an increase of 25.9 points or 2.56%. The stock has shown a positive trend today, gaining after three consecutive days of decline, and it outperformed its sector by 2.66%. The stock reached an intraday high of Rs 1063.45, which is a 4.95% increase. Over the past week, the stock has risen by 1.62%, and in the last month, it has increased by 3.94%. However, despite these short-term gains, the stock has underperformed significantly over the year, with a decline of 27.82%. The company's strong financial performance, including a healthy EBIT to Interest ratio and consistent growth in net sales and profits, supports the recent price movement, but its high valuation and lack of domestic mutual fund investment raise concerns.
In the broader market context, the stock's short-term performance has outpaced the Sensex, which has increased by 1.18% over the same week. However, the stock's year-to-date performance is notably poor compared to the benchmark, which has gained 3.79%. This disparity indicates that while the stock may be experiencing a temporary rebound, it has struggled significantly over a longer period, reflecting investor caution. The absence of domestic mutual fund investment suggests that institutional investors may be wary of the stock's high valuation relative to its peers, contributing to its overall underperformance in the market.