Why is Bemco Hydraulics falling/rising?

As of 16-Jul, Bemco Hydraulics Ltd is experiencing a price increase, currently at Rs. 3,297.30, reflecting a rise of 64.65 or 2.0%. The stock has hit a new 52-week and all-time high today, and it has been on a consecutive gain streak for the last 19 days, accumulating a remarkable 42.62% return during this period. Additionally, the stock has outperformed its sector by 0.69% today and is trading above all key moving averages. The company's strong financial performance, highlighted by a low Debt to EBITDA ratio of 0.82 times and a significant growth in net profit of 145.58%, supports its positive momentum. However, the stock's high valuation, indicated by a Price to Book Value of 10.3, may raise concerns among investors, particularly given that domestic mutual funds hold no stake in the company.
In the broader market context, Bemco Hydraulics has significantly outperformed the benchmark Sensex, which has declined by 1.08% over the past week while the stock has surged by 10.40%. Over the past month, the stock has increased by 40.01%, contrasting sharply with the Sensex's modest gain of 1.02%. This strong performance relative to the benchmark indicates robust investor confidence in Bemco Hydraulics, despite the broader market's challenges. The rising investor participation, evidenced by a 172.83% increase in delivery volume, further underscores the stock's appeal in a market that is otherwise experiencing volatility.