Why is Eicher Motors falling/rising?

As of 09-Jul, Eicher Motors Ltd's stock price is rising, currently at Rs 5,693.00, reflecting an increase of 23.5 points or 0.41%. The stock is trading close to its 52-week high, just 3.77% away from Rs 5,907.85, and has shown a strong performance over the past month with a return of 5.86%. However, there has been a notable decline in investor participation, with delivery volume falling by 32.22% against the 5-day average. Despite this, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past year, Eicher Motors has outperformed the market with a return of 17.93%, significantly higher than the BSE500's return of 1.43%.
In the broader market context, while Eicher Motors has experienced a slight decline of 0.44% over the past week, it has still managed to outperform the benchmark index, which has gained 0.15% in the same period. The company's strong fundamentals, including a high return on equity (ROE) of 17.78%, low debt-to-equity ratio, and healthy long-term growth in net sales and operating profit, contribute to its positive outlook. Additionally, high institutional holdings at 41.66% suggest confidence from sophisticated investors. However, the stock's valuation is considered expensive, with a price-to-book value of 7.3, which could pose a risk if profit growth does not keep pace with its high valuation.