Why is 360 ONE falling/rising?

As of 03-Jul, 360 ONE WAM Ltd is experiencing a price increase, currently at Rs 1,228.50, reflecting a rise of Rs 50.0 or 4.24%. The stock has shown strong performance today, outperforming its sector by 4.76% and achieving a consecutive gain over the last two days with a total return of 4.33%. It reached an intraday high of Rs 1,235, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite this positive movement, there is a notable decline in investor participation, with delivery volume dropping significantly by 87.16% compared to the 5-day average. The company has demonstrated strong long-term fundamentals, with a consistent return on equity of 18.36% and positive results over the last five quarters, including a 24.09% growth in net sales and a 21.01% increase in profit after tax.
In the broader market context, the stock's short-term performance is particularly impressive, with a 5.45% increase over the past week, while the benchmark Sensex has declined by 0.62%. Over the past month, 360 ONE has outperformed the Sensex, gaining 21.26% compared to the index's 3.10% rise. However, it is important to note that the stock has a high valuation, trading at a premium compared to its peers, which may raise concerns among investors. Despite generating a return of 30.22% over the past year, the company's profits have only increased by 33.9%, leading to a PEG ratio of 2.1, indicating potential overvaluation.