Why is Bemco Hydraulics falling/rising?

As of 30-Jun, Bemco Hydraulics Ltd is experiencing a price increase, currently at 2,600.15, reflecting a rise of 50.95 or 2.0%. The stock has shown strong performance, gaining 12.46% over the past week and outperforming its sector by 0.83% today. It is also trading close to its 52-week high, just 4.34% away from Rs 2,713. The company has demonstrated consistent growth, with a net profit increase of 145.58% and a healthy operating profit growth rate of 47.41%. Despite its strong fundamentals, the stock is considered expensive with a high Price to Book Value ratio of 8.1, and domestic mutual funds hold no stake in the company, which may indicate some caution among institutional investors.
In the broader market context, Bemco Hydraulics has significantly outperformed the benchmark Sensex, with a year-to-date return of 91.96% compared to the Sensex's 7.00%. Over the past week, the stock's return of 10.40% also surpasses the Sensex's 2.09%, highlighting its strong momentum. This robust performance, alongside rising investor participation and positive quarterly results, suggests that the market is responding favorably to the company's growth prospects, despite some concerns regarding its valuation and institutional interest.