Why is Bemco Hydraulics falling/rising?

As of 11-Jul, Bemco Hydraulics Ltd's stock price is rising, currently at Rs 3,107.20, reflecting an increase of 60.9 points or 2.0%. The stock has reached a new 52-week and all-time high today, and it has been on a consecutive gain streak for the last 16 days, during which it has appreciated by 34.39%. Additionally, the stock has significantly outperformed the sector by 3.11% today. Over the past week, Bemco Hydraulics has shown a remarkable return of 10.40%, and its year-to-date performance stands at an impressive 129.40%. The company's strong financial metrics, including a low Debt to EBITDA ratio of 0.82 and a substantial growth in net profit of 145.58%, contribute positively to investor sentiment, despite its high valuation indicated by a Price to Book Value of 9.7.
In the broader market context, while the Sensex has declined by 1.12% over the past week, Bemco Hydraulics has managed to rise, showcasing its strength against the benchmark. The stock's performance is particularly notable given that it has consistently outperformed the BSE500 over the last three years, generating returns of 132.97% in the past year alone. However, it is worth noting that domestic mutual funds hold no stake in the company, which may indicate a lack of confidence at current price levels. Despite this, the stock's liquidity remains adequate for trading, suggesting that investor interest continues to be strong, contributing to its upward price movement.