Why is HDFC AMC falling/rising?

As of 18-Jul, HDFC Asset Management Company Ltd's stock price is rising, currently at 5,588.15, reflecting an increase of 77.9 or 1.41%. The stock has shown strong performance recently, gaining 9.74% over the past week and 12.99% over the past month. It has also reached a new 52-week high of Rs. 5625 today, outperforming its sector by 1.7%. The stock has been on a consecutive gain streak for the last five days, and its trading is above all key moving averages, indicating positive momentum. Additionally, the company has demonstrated strong long-term fundamentals, with a high average Return on Equity (ROE) of 28.86% and consistent positive results over the last ten quarters, further supporting investor confidence.
In the broader market context, HDFC AMC's short-term performance contrasts sharply with the Sensex, which has declined by 0.90% over the past week. The stock's impressive returns of 32.96% year-to-date and 34.46% over the past year significantly outpace the Sensex's 4.63% and 0.51% respectively. This strong performance is bolstered by high institutional holdings at 38.53%, suggesting robust investor confidence. However, it is important to note that the stock is considered very expensive with a Price to Book Value of 14.7, which may pose a risk if valuations do not align with future earnings growth.