Why is Eicher Motors falling/rising?

As of 01-Jul, Eicher Motors Ltd is experiencing a price increase, currently at 5,717.20, reflecting a rise of 67.2 or 1.19%. The stock is trading close to its 52-week high, just 3.33% away from Rs 5,907.85, and has outperformed its sector by 1.05% today. It is also trading above all key moving averages, indicating strong momentum. Over the past year, Eicher Motors has delivered a return of 23.31%, significantly outperforming the broader market's return of 5.31%. The company benefits from high management efficiency, a low debt-to-equity ratio, and healthy long-term growth metrics, including a 15.57% annual growth rate in net sales. However, there is a noted decline in investor participation, with delivery volume falling by 28.02% against the five-day average.
In the broader market context, Eicher Motors' short-term performance over the past week shows a return of 1.59%, which is slightly below the benchmark Sensex's return of 2.00%. Despite this, the stock's strong fundamentals, including high institutional holdings at 41.66% and impressive quarterly results, contribute positively to its market perception. The company's market cap positions it as the second-largest in its sector, further solidifying its standing. However, the stock's high valuation, indicated by a Price to Book Value of 7.4, raises concerns about its sustainability in the long term, especially as profits have only risen by 18.3% despite a strong return.