Why is Bajaj Finance falling/rising?

As of 23-Oct, Bajaj Finance Ltd's stock price is currently at 1,094.20, reflecting an increase of 7.5 points or 0.69%. The stock has recently hit a new 52-week high of Rs. 1102.45 and has outperformed its sector by 0.55%. It has been on a positive trajectory, gaining for the last six consecutive days with a total return of 7.42% during this period. Over the past week, the stock has increased by 2.66%, and year-to-date, it has shown a remarkable growth of 60.20%. The company's strong fundamentals, including a consistent return on equity of 17.05% and healthy growth in net sales and operating profit, contribute positively to its performance. However, the stock is considered expensive with a high price-to-book value, which may raise concerns among some investors.
In the broader market context, Bajaj Finance's short-term performance has outpaced the benchmark Sensex, which has risen by 1.30% over the same week. This strong performance is supported by high institutional holdings of 36.31%, indicating confidence from larger investors who typically have more resources to analyze company fundamentals. Despite a significant drop in delivery volume, which fell by 90.01% against the 5-day average, the stock remains liquid enough for trading. Overall, Bajaj Finance's impressive returns over the past year, significantly higher than the market average, alongside its strong financial results, suggest that the stock's upward movement is driven by solid investor confidence and market-beating performance.