Why is Deep Industries falling/rising?

As of 14-Jul, Deep Industries Ltd is experiencing a price increase, with its current price at Rs 466.40, reflecting a rise of Rs 14.95 or 3.31%. The stock has shown strong performance today, outperforming its sector by 3.74% and achieving a consecutive gain over the last three days, with a total return of 5.05% during this period. It reached an intraday high of Rs 475, indicating positive momentum. Additionally, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 31.33% and operating profit growing significantly. However, despite these positive indicators, the stock's valuation appears expensive relative to its peers, as evidenced by a high Price to Book Value ratio of 1.6, which may raise concerns among investors.
In the broader market context, Deep Industries has outperformed the benchmark Sensex in the short term, with a 1-week return of +6.07% compared to the Sensex's -1.42%. While the stock has generated a substantial return of 47.48% over the past year, it has also faced challenges, such as a low return on equity of 8.8% and minimal domestic mutual fund holdings, which could indicate a lack of confidence in its current valuation. Despite these concerns, the stock's recent performance and consistent returns over the past three years suggest that investor sentiment remains relatively positive, contributing to its rising price.