Why is Eicher Motors falling/rising?

As of 18-Sep, Eicher Motors Ltd is experiencing a slight increase in its stock price, currently at Rs 6,916.20, reflecting a change of 16.7 points or 0.24% upwards. The stock has shown strong performance over various periods, with a 1-month return of 17.12% and a year-to-date return of 43.33%, significantly outperforming the Sensex, which has only increased by 2.14% and 6.24% respectively in the same time frames. The stock is trading close to its 52-week high, just 0.49% away, and is above all key moving averages, indicating a positive trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 53.43% against the 5-day average, which could be a concern for future price stability.
In the broader market context, Eicher Motors' recent performance has outpaced the benchmark indices, showcasing its strength in both short-term and long-term returns. The company benefits from low debt levels and strong fundamentals, including a healthy growth rate in net sales and operating profit, which supports its rising stock price. Additionally, high institutional holdings at 41.59% suggest confidence from sophisticated investors. However, the stock's high valuation relative to its peers, indicated by a Price to Book Value of 8.9 and a PEG ratio of 2.5, may pose risks if earnings growth does not keep pace with its premium valuation. Overall, while the stock is currently rising, the decline in trading volume and high valuation metrics warrant close monitoring.