Why is Bemco Hydraulics falling/rising?

As of 10-Jul, Bemco Hydraulics Ltd is experiencing a price increase, currently at Rs 3,046.30, which reflects a rise of 59.7 points or 2.0%. The stock has reached a new 52-week and all-time high today, and it has outperformed its sector by 2%. Over the past 15 days, the stock has shown a remarkable gain of 31.76%, and it opened with a 2% gain today. Additionally, Bemco Hydraulics has demonstrated strong performance over various time frames, with a year-to-date return of 124.90% and a three-year return of 709.76%. The company has a low Debt to EBITDA ratio of 0.82, indicating a strong ability to service its debt, and it has reported significant growth in net profit and operating profit, which has contributed positively to investor sentiment.
In the broader market context, while the Sensex has shown a slight decline of 0.06% over the past week, Bemco Hydraulics has surged by 10.40%, highlighting its strong performance relative to the benchmark. This divergence suggests that investor confidence in Bemco is robust, particularly given its consistent returns over the last three years and positive quarterly results. However, it is worth noting that domestic mutual funds hold no stake in the company, which may indicate some caution among institutional investors regarding its valuation, as the stock is considered expensive with a Price to Book Value of 9.5. Despite this, the overall strong financial metrics and recent performance have driven the stock's upward movement.