Why is Allied Blenders falling/rising?

As of 30-Jul, Allied Blenders & Distillers Ltd is experiencing a price increase, currently at Rs 493.70, reflecting a rise of 6.3 points or 1.29%. The stock has recently hit a new 52-week high of Rs 511.55 and has shown strong performance, gaining 7% over the last three days. It has outperformed its sector by 0.55% today and has been trading above its moving averages across multiple time frames. Additionally, the stock has demonstrated impressive returns over various periods, including a 60.19% increase over the past year, significantly outperforming the broader market, which has seen negative returns.
In the broader market context, while the BSE500 index has generated negative returns of -2.34% over the last year, Allied Blenders has thrived, showcasing its resilience and strong fundamentals. The company has reported consistent positive results over the last five quarters, with significant growth in net sales and profit after tax. Furthermore, the increasing participation of institutional investors, who have raised their stake in the company, indicates confidence in its long-term growth potential. However, the stock's high valuation relative to its returns may pose a risk, as it suggests that the market has high expectations for future performance.