Why is Z-Tech (India) falling/rising?

As of 11-Sep, Z-Tech (India) Ltd is experiencing a slight increase in its stock price, currently at 599.05, reflecting a change of 0.5 or 0.08% upward. The stock has shown strong performance recently, outperforming its sector by 0.3% today and trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past week, Z-Tech has delivered a remarkable return of 8.82%, significantly outpacing the Sensex's 1.10% increase. The company has also demonstrated robust financial health, with a low debt-to-equity ratio of 0.02 and impressive growth in net sales and operating profit, contributing to a 71.33% return over the past year despite the broader market's negative performance.
In the broader market context, Z-Tech's recent performance stands out, particularly as the BSE500 index has reported a negative return of -2.29% over the last year. This contrast highlights Z-Tech's resilience and ability to attract investor interest, evidenced by a substantial increase in delivery volume, which rose by 909.8% against the 5-day average. However, despite its strong returns and growth metrics, the stock is considered expensive with a high price-to-book value of 37.6, and the lack of domestic mutual fund investment may indicate some caution among institutional investors regarding its valuation.