Why is Indo Thai Sec. falling/rising?

As of 14-Nov, Indo Thai Securities Ltd is experiencing a price increase, currently at Rs 400.85, reflecting a rise of Rs 19.05 or 4.99%. The stock has shown strong performance today, outperforming its sector by 4.23% and has gained consecutively over the past two days, accumulating a total return of 10.23%. It opened with a gain of 3.98% and reached an intraday high of Rs 400.85. Over the past week, the stock has increased by 5.43%, although it has seen a decline of 2.69% over the past month. The company has demonstrated robust long-term growth, with operating profits growing at a compound annual growth rate (CAGR) of 42.62%, and has reported outstanding results in recent quarters, which has likely contributed to the positive price movement. However, the stock's valuation is considered very expensive, with a price-to-book value of 22.5, which may raise concerns among some investors.
In the broader market context, Indo Thai Securities Ltd has significantly outperformed the Sensex, generating a return of 269.28% over the past year compared to the Sensex's 9.00%. While the stock has shown strong long-term performance, it is important to note that its recent gains come amidst a decline in investor participation, with delivery volume decreasing by 28.31% against the five-day average. This could indicate a potential risk if the trend continues. Nonetheless, the increasing participation of institutional investors, who have raised their stake by 0.79%, suggests confidence in the company's fundamentals, which may help sustain the stock's upward momentum in the near term.