Why is Amal falling/rising?

As of 23-Jul, Amal Ltd's stock price is rising, currently at 1,090.00, reflecting an increase of 21.45 or 2.01%. The stock has shown strong performance recently, gaining 12.2% over the last two days and outperforming its sector by 2.87% today. Additionally, it has demonstrated impressive returns over various periods, including a 201.94% increase over the past year and a staggering 712.30% over the last five years. The company has consistently reported positive results, with net sales growing at an annual rate of 54.69% and operating profit at 60.95%. However, despite its strong performance, the stock is considered very expensive with a high price-to-book value of 13.6, which may raise concerns among some investors.
In the broader market context, Amal Ltd's short-term return of 9.45% over the past week significantly outpaces the Sensex, which only increased by 0.11% in the same period. This indicates that Amal is not only performing well on its own but is also gaining traction compared to the overall market. The rising investor participation, evidenced by a 22.68% increase in delivery volume, further supports the stock's upward movement. However, the low stake held by domestic mutual funds, at only 0.03%, suggests some caution in the market regarding the stock's valuation, which could impact future investor sentiment.