Why is Aditya AMC falling/rising?

As of 28-Aug, Aditya Birla Sun Life AMC Ltd is experiencing a slight increase in its stock price, currently at 841.75, reflecting a change of 0.2 (0.02%) upward. The stock has shown a trend reversal, gaining after two consecutive days of decline. It has outperformed its sector by 1.09% today, with a notable increase in delivery volume, which rose by 40.11% against the 5-day average. Over the past year, the stock has generated a return of 14.29%, significantly outperforming the Sensex, which has declined by 2.08% during the same period. However, the stock's valuation remains high, trading at a premium compared to its peers, with a Price to Book Value of 6.5.
In the broader market context, while the stock has shown resilience with a year-to-date return of +0.81%, it has underperformed the Sensex in the short term, with a 1-week decline of -4.62% compared to the benchmark's -2.34%. The company's strong long-term fundamentals, highlighted by a robust Return on Equity (ROE) of 25.98% and positive quarterly results, support its upward movement. However, the high valuation and the relatively expensive PEG ratio of 1.5 indicate potential risks that could affect future performance. Overall, the stock's recent rise can be attributed to positive investor sentiment and strong fundamentals, despite the challenges posed by its valuation.