Why is J K Cements falling/rising?

As of 22-Jul, J K Cements Ltd is experiencing a price increase, currently trading at Rs 6,495.80, which reflects a rise of Rs 101.55 or 1.59%. The stock has shown strong performance today, outperforming its sector by 1.3% and reaching an intraday high of Rs 6,540. It is also close to its 52-week high, just 2.65% away. Over the past week, the stock has gained 0.48%, and in the last month, it has risen by 13.72%. The company has reported positive financial results, with a significant growth in profit before tax and profit after tax, alongside a strong cash position. Additionally, high institutional holdings suggest confidence in the company's fundamentals, contributing to the stock's upward momentum.
In the broader market context, J K Cements has outperformed the Sensex, which has declined by 0.47% over the past week, while J K Cements has shown a positive return. Year-to-date, the stock has increased by 41.34%, significantly surpassing the Sensex's 5.18% gain. Despite its strong performance, the stock's valuation is considered expensive, with a high enterprise value to capital employed ratio and a PEG ratio indicating that profits have not kept pace with its stock price increase. However, the consistent returns over the past three years and rising investor participation suggest a robust demand for the stock, supporting its recent price rise.