Why is Eicher Motors falling/rising?

As of 28-Aug, Eicher Motors Ltd is currently priced at Rs. 6,139.50, reflecting a decrease of Rs. 11.65 or 0.19%. The stock has recently hit a new 52-week high of Rs. 6,250 but has experienced a decline after two consecutive days of gains. Despite this short-term drop, the stock has shown strong performance over various periods, with a 14.41% increase over the past month and a remarkable 27.23% rise year-to-date. The company benefits from low debt and strong long-term fundamentals, evidenced by a healthy annual growth rate in net sales and operating profit. However, the stock is considered expensive based on its valuation metrics, which may contribute to the recent price fluctuation.
In the broader market context, Eicher Motors has outperformed the Sensex, which has declined by 2.34% over the past week while Eicher Motors has gained 2.86%. This indicates that the stock is maintaining a positive trajectory relative to the market. The high institutional holdings at 41.59% suggest confidence from larger investors, which typically supports stock stability. However, the flat results reported in June and the high Price to Book Value ratio may raise concerns among investors, potentially influencing the stock's recent price movement. Overall, while the stock has shown resilience and positive long-term growth, short-term fluctuations may be influenced by market sentiment and valuation concerns.