Why is Deep Industries falling/rising?

As of 22-Jul, Deep Industries Ltd is experiencing a slight increase in its stock price, currently at Rs 468.90, reflecting a change of 1.4 (0.3%) upward. Today's price summary indicates that the stock outperformed its sector by 0.98%, reaching an intraday high of Rs 479.6, which is a 2.59% increase. Over the past week, the stock has seen a decline of 1.08%, but it has performed well over the past month with an increase of 8.88%. The company has shown healthy long-term growth, with net sales growing at an annual rate of 31.33% and operating profit at 130.54%. Additionally, the company has declared positive results for the last four consecutive quarters, with net sales and profit after tax showing significant growth. However, the stock's high valuation, indicated by a price-to-book value of 1.6 and a relatively low return on equity of 8.8, may raise concerns among investors.
In the broader market context, Deep Industries' short-term performance has not aligned with the benchmark, as the Sensex has only declined by 0.47% over the same week. Despite the stock's recent outperformance in the sector, the overall market sentiment may be cautious due to the company's low domestic mutual fund holdings, which could suggest a lack of confidence in its current valuation. While the stock has generated impressive returns over the past year, its profits have not kept pace with its price increase, leading to a PEG ratio of 0.6, which may deter some investors.