Why is Allied Blenders falling/rising?

As of 23-Oct, Allied Blenders & Distillers Ltd is experiencing a price increase, currently at 625.40, reflecting a rise of 21.85 or 3.62%. The stock has reached a new 52-week and all-time high of Rs. 629 today, outperforming its sector by 3.14%. It has shown consistent gains over the past seven days, accumulating a total return of 18.27% during this period. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. Additionally, the company has demonstrated high management efficiency with a return on capital employed (ROCE) of 15.95%, and it has reported positive results for the last five consecutive quarters, contributing to a significant increase in both profit after tax and net sales.
In the broader market context, Allied Blenders has outperformed the benchmark, generating a return of 97.91% over the past year compared to the BSE500's return of only 3.59%. This strong performance is further supported by increasing participation from institutional investors, who have raised their stake in the company, reflecting confidence in its fundamentals. Despite the stock's impressive gains, it is noted that the valuation appears expensive, with a high enterprise value to capital employed ratio. However, the overall positive growth trajectory and rising investor interest have contributed to the stock's recent upward movement.