Why is Amal falling/rising?

As of 11-Jul, Amal Ltd's stock price is currently at 800.50, reflecting a decrease of 2.7 points or 0.34%. Today, the stock opened with a gain of 2.09% but has since fallen after two consecutive days of gains, indicating a trend reversal. The stock reached an intraday high of Rs 845 but also touched a low of Rs 762.3, showcasing high volatility with a wide trading range of Rs 82.7. Despite this decline, Amal Ltd has demonstrated strong performance over various periods, with a 1-year return of 116.38% and a year-to-date increase of 76.71%. The company has reported healthy long-term growth, with net sales increasing at an annual rate of 45.22% and net profit growing by 38.64%, contributing to its positive results over the last eight quarters. However, the stock's high valuation, indicated by a 10 Price to Book Value and a low domestic mutual fund holding, may raise concerns among investors.
In the broader market context, Amal Ltd has significantly outperformed the Sensex, which has seen a decline of 1.12% over the past week while Amal's stock has risen by 18.16% in the same period. This outperformance highlights the stock's strong market position despite the recent price drop. The stock's volatility and the recent trend reversal may reflect profit-taking by investors after substantial gains, as well as caution due to its expensive valuation relative to peers. Overall, while the stock has shown impressive long-term growth and returns, the current price movement suggests a reaction to both market dynamics and investor sentiment regarding its valuation.