Why is Cholaman.Inv.&Fn falling/rising?

As of 15-Oct, Cholamandalam Investment & Finance Company Ltd is experiencing a price increase, currently at Rs 1,699.15, reflecting a rise of Rs 52.9 or 3.21%. The stock has recently hit a new 52-week and all-time high of Rs 1,705, indicating strong upward momentum. Over the past week, the stock has gained 5.70%, and it has outperformed the sector by 1.05% today. The company has shown consistent performance, with positive results for the last 11 consecutive quarters, including a significant growth in net sales and cash equivalents. Additionally, the stock is supported by high institutional holdings at 44.02%, which often indicates confidence in the company's fundamentals.
In the broader market context, Cholamandalam's recent performance has significantly outpaced the benchmark, with a 1-week return of 5.70% compared to the Sensex's 1.02%. This trend of outperformance is consistent over various time frames, including a year-to-date return of 43.20% against the Sensex's 5.72%. The finance/NBFC sector has also gained by 2.16%, contributing to the positive sentiment surrounding the stock. Despite its strong performance, the stock is considered expensive with a high price-to-book value, which could pose risks if market conditions change. However, the current investor participation and liquidity suggest a robust trading environment for Cholamandalam.