Why is Eicher Motors falling/rising?

As of 19-Sep, Eicher Motors Ltd is experiencing a price increase, currently at Rs. 6,962.10, reflecting a rise of 45.9 points or 0.66%. The stock has recently hit a new 52-week high of Rs. 7,016 and has outperformed its sector by 0.89%. Over the past week, the stock has gained 1.27%, and in the last month, it has risen by 17.11%. Despite a recent drop in delivery volume by 69.6% against the 5-day average, the stock is trading above all key moving averages, indicating strong momentum. The company's low debt, strong long-term growth in net sales and operating profit, and high institutional holdings contribute positively to its performance. However, the stock is considered expensive with a high Price to Book Value ratio, which may raise concerns among some investors.
In the broader market context, Eicher Motors has outperformed the Sensex, which has only increased by 0.88% over the past week, while Eicher has gained 1.27%. The stock's year-to-date return of 44.28% significantly surpasses the Sensex's 5.74%, highlighting its strong market position. Additionally, Eicher Motors has consistently outperformed the BSE500 over various time frames, further solidifying its attractiveness to investors. Overall, the combination of strong fundamentals, market performance, and institutional backing supports the stock's upward movement despite some concerns regarding its valuation.