Why is Bemco Hydraulics falling/rising?

As of 15-Jul, Bemco Hydraulics Ltd's stock price is rising, currently at Rs. 3,232.65, reflecting an increase of 63.35 (2.0%). The stock has recently hit a new 52-week and all-time high today, demonstrating strong performance with a 39.82% return over the last 18 days. It has outperformed its sector by 1.22% today and is trading above all key moving averages. The company has shown impressive growth, with a net profit increase of 145.58% and consistent positive results over the last three quarters, contributing to a robust annual growth rate of 47.41% in operating profit. However, the stock's valuation appears expensive with a Price to Book Value of 10.1, and the lack of domestic mutual fund investment may indicate some caution among institutional investors.
In the broader market context, Bemco Hydraulics has significantly outperformed the benchmark Sensex, which has seen a decline of 1.36% over the past week while the stock itself has risen by 10.40%. This stark contrast highlights the stock's strong momentum in a generally unfavorable market environment. The company's ability to service debt effectively, coupled with its consistent returns over the past three years, further supports its positive trajectory despite the noted risks associated with its valuation and investor participation.