Why is J K Cements falling/rising?

As of 19-Aug, J K Cements Ltd is experiencing a price increase, currently at Rs. 7,392.85, reflecting a rise of 89.55 points or 1.23%. The stock has recently hit a new 52-week and all-time high of Rs. 7,475.45, indicating strong upward momentum. Over the last three days, it has gained 6.79%, outperforming its sector by 1%. The stock is trading above all its moving averages, which is a positive sign. However, there has been a slight decline in investor participation, with delivery volume falling by 3.56% against the five-day average. The company has shown impressive financial performance, with a significant growth in profit before tax and profit after tax in the latest quarter, alongside high institutional holdings that suggest confidence from larger investors.
In the broader market context, J K Cements has outperformed the benchmark Sensex, with a one-week return of 5.79% compared to the Sensex's 1.76%. The stock has also shown substantial long-term performance, with a year-to-date increase of 60.86% against the Sensex's 4.49%. Despite the strong performance, the stock is considered expensive based on its return on capital employed and has a high PEG ratio, which could pose risks if profit growth does not keep pace with its valuation. Overall, the combination of strong recent performance, institutional support, and positive financial results contributes to the stock's rising price, despite some concerns regarding valuation and investor participation.