Why is Godfrey Phillips falling/rising?

As of 03-Sep, Godfrey Phillips India Ltd. is experiencing a price increase, with its current price at Rs 10,197.50, reflecting a rise of 136.2 points or 1.35%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it reached an intraday high of Rs 10,420, marking a 3.57% increase. Over the past month, the stock has performed well, with a return of 16.23%, significantly outperforming the Sensex, which saw a slight decline of 0.04%. The company has demonstrated strong financial health, evidenced by a high return on equity (ROE) of 18.33%, a low debt-to-equity ratio of 0.02, and impressive growth in net profit and operating profit, which have increased by 64.1% and 30.05% respectively. However, the stock is considered expensive with a high price-to-book value of 10.1, which may raise concerns among investors regarding its valuation.
In the broader market context, Godfrey Phillips has outperformed the benchmark Sensex over various time frames, including a remarkable 850.11% return over the past three years compared to the Sensex's 37.01%. Despite a short-term decline of 3.13% over the past week, the stock's long-term performance remains robust, with a year-to-date return of 95.43% against the Sensex's 3.11%. The rising investor participation, indicated by a significant increase in delivery volume, suggests a positive sentiment towards the stock, further supporting its upward movement. Overall, while the stock's recent rise can be attributed to strong financial performance and investor interest, its high valuation relative to peers may pose risks for future price movements.