Why is 3M India falling/rising?

As of 04-Nov, 3M India Ltd. is experiencing a significant rise in its stock price, currently at Rs 35,680.00, reflecting an increase of Rs 4,998.5 or 16.29%. The stock has shown strong performance today, outperforming its sector by 16.54% and has gained 20.79% over the last two days. It opened with a notable gain of 7.54% and reached an intraday high of Rs 36,666, which is 4.05% away from its 52-week high. The stock is trading above all major moving averages, indicating a bullish trend. Additionally, the company has demonstrated high management efficiency with a return on equity (ROE) of 19.22% and has maintained a low debt-to-equity ratio, which supports its healthy long-term growth potential.
In the broader market context, 3M India's short-term performance has significantly outpaced the benchmark Sensex, which has declined by 1.38% over the past week while the stock rose by 20.92%. Despite a year-over-year decline of 1.24% in stock returns, the company reported strong quarterly results, with net sales reaching a record high, which likely contributed to the recent price surge. However, it is important to note that the stock is considered expensive with a high price-to-book value of 18.7, and its profits have decreased by 5.7% over the past year, which could pose risks to future performance.