Why is Bajaj Finance falling/rising?

As of 22-Sep, Bajaj Finance Ltd is currently priced at 1,006.00, reflecting an increase of 13.0 points or 1.31%. The stock has shown a positive trend today, outperforming its sector by 0.89% and reversing a two-day decline. It is trading close to its 52-week high, just 1.96% away from 1,025.75. Over the past month, Bajaj Finance has delivered a return of 12.45%, significantly outperforming the Sensex, which has only gained 1.05%. The company has demonstrated strong long-term fundamentals, with a consistent record of positive quarterly results and a robust average return on equity of 17.05%. However, there is a noted decline in investor participation, with delivery volume decreasing by 9.02% compared to the five-day average.
In the broader market context, Bajaj Finance's recent performance contrasts with the overall market, as the BSE500 has experienced negative returns of -3.80% over the past year, while Bajaj Finance has achieved a remarkable 32.67% return. This strong performance is supported by high institutional holdings, indicating confidence from larger investors. Despite its impressive growth, the stock is considered expensive with a high price-to-book value, which may pose risks if market conditions change. Overall, the combination of strong fundamentals and market-beating performance contributes to the stock's rising price, even as it faces challenges related to valuation and investor participation.