Why is Eicher Motors falling/rising?

As of 02-Jul, Eicher Motors Ltd's stock is currently priced at Rs 5,718.00, reflecting a slight increase of 0.8 (0.01%). The stock has been gaining momentum, having risen 1.2% over the last two days, and it is trading above all key moving averages, indicating a strong upward trend. Additionally, the stock has shown impressive returns over various periods, including a 23.60% increase over the past year, significantly outperforming the broader market's return of 5.00%. However, there has been a decline in investor participation, with delivery volume dropping by 24.9% compared to the five-day average. Despite this, the company's strong fundamentals, such as a high return on equity of 17.78%, low debt-to-equity ratio, and healthy long-term growth in net sales and operating profit, contribute positively to its stock performance.
In the broader market context, Eicher Motors has outperformed the Sensex, with a one-week return of 2.66% compared to the benchmark's 0.79%. The company's high institutional holdings at 41.66% suggest confidence from larger investors who are better equipped to analyze the company's fundamentals. While the stock's valuation appears expensive with a price-to-book ratio of 7.4, its strong financial performance and market position as the second-largest company in its sector bolster investor sentiment. Overall, the combination of solid financial metrics and market-beating performance underpins the stock's recent upward movement, despite some concerns regarding declining trading volumes.