Why is Bemco Hydraulics falling/rising?

As of 02-Jul, Bemco Hydraulics Ltd's stock price is rising, currently at 2,705.15, reflecting an increase of 53.0 points or 2.0%. The stock has shown strong performance, gaining 17% over the last nine days and is currently just 0.29% away from its 52-week high. It has outperformed its sector by 1.87% today and is trading above all key moving averages, indicating positive momentum. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.82 times and impressive growth in net profit and operating profit, which have increased by 145.58% and 47.41%, respectively. However, the stock's valuation appears expensive with a Price to Book Value of 8.4, and domestic mutual funds hold no stake, which may indicate some caution among institutional investors.
In the broader market context, Bemco Hydraulics has significantly outperformed the Sensex, with a 10.40% return over the past week compared to the benchmark's 0.79%. This trend continues over longer periods, with the stock achieving a remarkable 99.72% return year-to-date and 101.79% over the past year, while the Sensex has only gained 6.75% and 5.00%, respectively. The strong performance relative to the benchmark suggests that investor sentiment remains positive towards Bemco Hydraulics, despite some concerns regarding valuation and low domestic mutual fund participation.