Why is HDFC AMC falling/rising?

As of 30-Jul, HDFC Asset Management Company Ltd's stock price is rising, currently at 5,670.75, reflecting an increase of 40.75 (0.72%). The stock has recently hit a new 52-week high and has outperformed its sector by 0.62%. It has shown a consistent upward trend, gaining for the last three days with a total return of 2.28% during this period. Additionally, the stock is trading above its moving averages across various time frames, indicating strong momentum. The company has demonstrated robust financial performance, with a healthy average return on equity of 28.86% and consistent positive results over the last ten quarters, which has likely bolstered investor confidence.
In the broader market context, HDFC AMC's short-term performance contrasts sharply with the benchmark Sensex, which has declined by 1.50% over the past week while HDFC AMC has gained 1.30%. This divergence suggests that the stock is attracting investor interest despite a generally unfavorable market environment. The high institutional holdings at 38.63% indicate strong backing from knowledgeable investors, further supporting the stock's upward movement. However, it is worth noting that the stock is considered expensive based on its valuation metrics, which may pose risks if market conditions change.