Why is HDFC AMC falling/rising?

As of 11-Sep, HDFC Asset Management Company Ltd's stock price is rising, currently at 5,796.15, reflecting an increase of 8.45 (0.15%). The stock has shown strong performance, gaining 4.15% over the past week and 5.42% over the past month, significantly outperforming the Sensex, which has only increased by 1.03% and 1.17% respectively. The stock is also close to its 52-week high, just 2.23% away, and has been gaining for the last two days, with a total return of 2.55% during this period. Additionally, HDFC AMC is trading above all its moving averages, indicating a positive trend. The rising investor participation, evidenced by a 60.1% increase in delivery volume, further supports the stock's upward movement. The company has demonstrated strong long-term fundamentals, with a robust average return on equity of 28.86% and consistent positive results over the last ten quarters.
In the broader market context, HDFC AMC's short-term returns have significantly outpaced the benchmark, with a year-to-date return of 37.91% compared to the Sensex's 4.36%. This strong performance is attributed to high institutional holdings at 38.63%, which suggests confidence from knowledgeable investors. However, the stock's valuation is considered expensive with a price-to-book value of 15.3, despite trading at a discount compared to its peers. While the stock has generated impressive returns, its profit growth of 25.7% over the past year indicates a PEG ratio of 1.9, which could be a concern for some investors. Overall, the combination of strong fundamentals, positive market sentiment, and significant institutional backing has contributed to the stock's rising price.