Why is Bajaj Holdings falling/rising?

As of 18-Aug, Bajaj Holdings & Investment Ltd is experiencing a price increase, currently at 14,517.85, reflecting a rise of 431.85 or 3.07%. The stock has shown strong performance recently, gaining 5.25% over the last three days and outperforming its sector by 0.82%. It is also close to its 52-week high, being just 2.45% away from Rs 14,873.2. The stock has demonstrated impressive returns over various periods, including a 51.69% increase over the past year and a staggering 162.01% over three years. The company is recognized for its strong long-term fundamentals, with a notable 22.89% CAGR growth in operating profits, and it ranks among the top 1% of companies rated by MarketsMojo.
In the broader market context, Bajaj Holdings has outperformed the Sensex, which has only increased by 0.83% over the past week, while the stock itself has risen by 3.41%. This trend is indicative of the stock's strong performance relative to the market. However, it is important to note that despite the positive price movement, there are concerns regarding its valuation, as indicated by a high Price to Book Value ratio and a decline in profits over the past year. Additionally, there has been a decrease in investor participation, with delivery volume falling by 21.37% against the five-day average, which could indicate potential caution among investors despite the stock's recent gains.