Why is HDFC AMC falling/rising?

As of 19-Sep, HDFC Asset Management Company Ltd is experiencing a slight increase in its stock price, currently at Rs 5,853.55, reflecting a change of 4.05 points or 0.07% upward. The stock has been gaining for the last four days, with a total return of 1.91% during this period. It is trading close to its 52-week high, just 1.23% away from Rs 5,925.5. Despite this positive momentum, there has been a notable decline in investor participation, with delivery volume falling by 42.83% against the five-day average. The company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 28.86% and consistent positive results over the last ten quarters, which supports its upward price movement.
In the broader market context, HDFC AMC's one-week return of 1.01% outpaces the Sensex's return of 0.88%, indicating a favorable performance relative to the benchmark. Over the past year, the stock has generated a return of 33.98%, significantly outperforming the Sensex, which has seen a decline of 0.67%. However, the stock's valuation is considered expensive with a Price to Book Value of 15.4, and while it has shown strong profit growth, the PEG ratio of 1.9 suggests that the stock may be overvalued compared to its earnings growth. This combination of strong performance metrics and high valuation may create a mixed outlook for investors.