Why is ICICI Lombard falling/rising?

As of 30-Jun, ICICI Lombard General Insurance Company Ltd is experiencing a rise in its stock price, currently at 2,047.00, reflecting an increase of 31.8 or 1.58%. The stock has outperformed its sector by 1.06% today and has shown consecutive gains over the last two days, with a total return of 1.89% during this period. The stock's performance over various time frames has been strong, with a 14.47% return over the past year and an impressive 82.46% return over the last three years, indicating robust long-term fundamental strength. However, there is a noted decline in investor participation, as the delivery volume has decreased by 18.66% compared to the five-day average, which could be a concern for future momentum.
In the broader market context, ICICI Lombard's short-term performance of 3.55% over the past week significantly outpaces the Sensex's return of 2.09%, highlighting its strong market position. The company's high institutional holdings at 41.52% suggest confidence from sophisticated investors, which may contribute to the stock's upward trajectory. Despite the positive indicators, the stock's valuation is considered expensive, trading at a premium compared to peers, and recent flat results in March could pose risks. Nonetheless, the overall market-beating performance and strong fundamentals continue to support the stock's rise.