Why is HDFC AMC falling/rising?

As of 17-Sep, HDFC Asset Management Company Ltd's stock price is rising, currently at 5,808.55, reflecting an increase of 30.55 or 0.53%. The stock has been gaining for the last two days, with a total return of 1.26% during this period. It is also trading close to its 52-week high, just 1.88% away from Rs 5,925.5. The stock has consistently outperformed its sector by 0.72% today and is trading above all key moving averages, indicating strong momentum. Additionally, the company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 28.86% and healthy operating profit growth of 16.97% annually. However, there is a noted decline in investor participation, with delivery volume falling by 33.57% against the 5-day average. In the broader market context, HDFC AMC's short-term performance over the past week shows a return of 0.36%, which is lower than the benchmark Sensex's return of 1.56%. Despite this, the stock has significantly outperformed the Sensex over longer periods, including a year-to-date return of 38.20% compared to the Sensex's 5.83%. The high institutional holdings at 38.63% suggest confidence from knowledgeable investors, which may support the stock's upward movement. Nevertheless, the stock's valuation is considered expensive, with a Price to Book Value of 15.3, and while it has generated a 31.25% return over the past year, its profits have only risen by 25.7%, indicating potential caution among investors regarding future growth.