Why is ICICI Lombard falling/rising?

As of 01-Jul, ICICI Lombard General Insurance Company Ltd is experiencing a price increase, currently at 2,058.00, reflecting a rise of 11.0 points or 0.54%. The stock has shown strong performance recently, outperforming its sector by 0.68% today and achieving a consecutive gain over the last three days with a total return of 2.43%. In terms of longer-term performance, the stock has delivered a 14.79% return year-to-date and has consistently outperformed the benchmark Sensex over various periods, including a 13.95% return over the past year. The stock's positive momentum is supported by strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 16.56% and high institutional holdings at 41.52%, indicating confidence from more sophisticated investors. However, there are concerns regarding its valuation, as it trades at a premium compared to peers, and recent flat results in March may raise caution among investors.
Broader Market Context: The stock's short-term performance has been notably strong, with a 3.60% increase over the past week compared to a 2.00% rise in the Sensex, highlighting its relative strength in the market. Additionally, the stock's liquidity is favorable, with a significant increase in delivery volume, suggesting heightened investor interest. Overall, while the broader market has shown positive trends, ICICI Lombard's ability to outperform both its sector and the benchmark reinforces its attractiveness to investors, despite some underlying risks related to valuation and recent financial performance.