Why is J K Cements falling/rising?

As of 06-Aug, J K Cements Ltd is experiencing a price increase, currently at Rs 6,966.00, reflecting a rise of 38.05 (0.55%). The stock has been performing strongly, gaining 8.08% over the last seven days and is just 1.35% away from its 52-week high. It has outperformed its sector by 1.27% today and is trading above its moving averages across various time frames. Additionally, the stock has shown impressive returns over multiple periods, including a 51.57% increase year-to-date and a 63.35% rise over the past year. Positive financial results, such as a significant growth in profit before tax and profit after tax, along with high institutional holdings, have contributed to the stock's upward momentum. However, it is important to note that the stock is considered to have a very expensive valuation based on its return on capital employed.
In the broader market context, J K Cements has outperformed the Sensex, which has seen a decline of 1.15% over the past week while J K Cements rose by 5.07%. This indicates a strong relative performance against the benchmark, highlighting investor confidence in the company despite broader market challenges. The stock's consistent returns over the last three years further reinforce its attractiveness to investors, even as concerns about its high valuation and slower profit growth compared to its stock performance linger.