Why is Colab Platforms falling/rising?

As of 23-Jun, Colab Platforms Ltd is experiencing a price increase, currently at Rs 31.19, reflecting a rise of 1.48 (4.98%). The stock has shown strong performance recently, gaining 21.46% over the last four days and outperforming its sector by 4.45% today. It opened with a gain of 4.27% and reached an intraday high of Rs 31.19. Over the past year, the stock has generated an impressive return of 316.70%, significantly higher than the market's average return of 2.78%. Positive financial results, including higher net sales and the highest quarterly profit after tax, have contributed to this upward movement, although concerns about weak long-term fundamental strength and high valuation metrics, such as a Price to Book Value of 29.3, remain.
In the broader market context, Colab Platforms has outperformed the benchmark Sensex in the short term, with a 1-week return of +15.39% compared to the Sensex's +0.12%. This stark contrast highlights the stock's strong momentum relative to the market. However, while the stock has shown remarkable gains year-to-date at +97.91%, the long-term outlook is tempered by its average Return on Equity of 5.76% and a PEG ratio of 3.2, indicating potential overvaluation concerns that could affect future performance.