Why is Coromandel Inter falling/rising?

As of 30-Jul, Coromandel International Ltd's stock price is rising, currently at 2,651.95, reflecting an increase of 153.9 or 6.16%. The stock has recently hit a new 52-week high of Rs. 2664.35 and has outperformed its sector by 3.35%. Over the past week, it has gained 14.46%, and in the last month, it has risen by 5.97%. The stock has shown strong performance with a consecutive gain over the last two days, yielding a total return of 10.04%. Additionally, the company boasts strong long-term fundamentals, including a robust average Return on Equity (ROE) of 21.78% and significant growth in net sales, which increased by 48.92% in the latest quarter. High institutional holdings at 30.15% further support the stock's upward movement, indicating confidence from knowledgeable investors.
In the broader market context, Coromandel International's performance stands in stark contrast to the Sensex, which has declined by 1.50% over the past week and 2.54% over the past month. This divergence highlights the stock's resilience and strength relative to the overall market. The company's impressive returns of 59.70% over the past year and 157.95% over three years further emphasize its market-beating performance. Despite the stock's high valuation, indicated by a Price to Book Value of 7.1, the strong fundamentals and positive investor sentiment are driving its price upward, making it an attractive option in a challenging market environment.