Why is J K Cements falling/rising?

As of 23-Jul, J K Cements Ltd is experiencing a price increase, currently at Rs 6,598.40, which reflects a rise of 102.6 points or 1.58%. The stock has shown strong performance, gaining 3.19% over the last two days and is only 1.05% away from its 52-week high. It has outperformed its sector by 2.05% today and is trading above all key moving averages, indicating a strong upward trend. Additionally, the company has reported impressive financial results, with a significant growth in profit before tax and profit after tax, alongside high cash reserves. The stock's high institutional holdings suggest confidence from knowledgeable investors, further supporting its positive momentum.
In the broader market context, J K Cements has outperformed the Sensex over various periods, including a 1-week return of 1.56% compared to the benchmark's 0.11%, and a year-to-date return of 43.57% against the Sensex's 5.87%. This consistent outperformance highlights the stock's strong position relative to the market. However, it is important to note that while the stock has generated substantial returns, its valuation appears expensive with a high enterprise value to capital employed ratio and a PEG ratio of 9.2, indicating potential risks if profit growth does not keep pace with its stock price increase.