Why is Waaree Renewab. falling/rising?

As of 13-Oct, Waaree Renewable Technologies Ltd is experiencing a significant rise in its stock price, currently at 1,230.85, reflecting an increase of 96.25 or 8.48%. The stock has been gaining momentum, having outperformed its sector by 9.33% today and achieving an 18.16% return over the last three days. It opened with a gain of 4.41% and reached an intraday high of Rs 1287.7, marking a 13.49% increase. The stock is also trading above its moving averages across various time frames, indicating a strong upward trend. Additionally, the company has shown impressive financial performance, with a net sales growth rate of 234.38% and a net profit increase of 117.38%, contributing to positive investor sentiment.
In the broader market context, Waaree Renewable Technologies Ltd has outperformed the Sensex significantly in the short term, with a 1-week return of 18.09% compared to the Sensex's 0.66%. Despite a year-to-date decline of 8.34% against the Sensex's 5.36% gain, the recent positive results and strong financial metrics have bolstered investor confidence. The company's ability to service its debt is robust, evidenced by a healthy EBIT to Interest ratio of 14.70, and it has consistently delivered positive results for the last 17 quarters. This combination of strong performance and positive market sentiment has contributed to the stock's recent upward movement.