Why is Dr Lal Pathlabs falling/rising?

As of 13-Aug, Dr Lal Pathlabs Ltd is experiencing a price increase, currently at 3,290.00, reflecting a change of 36.45 (1.12%) upwards. The stock has shown a positive trend, gaining 3.64% over the last three days and outperforming the Sensex over the past week with a return of +2.43% compared to the benchmark's -0.01%. Despite this, the stock underperformed its sector by 2.71% today, and there has been a notable decline in investor participation, with delivery volume falling by 20.57% against the five-day average. The company benefits from strong long-term fundamentals, including a high return on equity (ROE) of 20.50% and a low debt-to-equity ratio, which supports its recent price movement.
In the broader market context, while Dr Lal Pathlabs has outperformed the Sensex in the short term, it has lagged behind the Hospital & Healthcare Services sector, which gained 3.78%. The stock's performance over the past year shows a modest return of 0.82%, despite a significant profit increase of 34.5%, indicating a very expensive valuation with a price-to-book value of 12.5. High institutional holdings at 39.6% suggest confidence from sophisticated investors, which may provide some support for the stock's price. However, the stock's valuation concerns, reflected in its PEG ratio of 1.6, could pose risks to its future performance.