Why is J K Cements falling/rising?

As of 19-Sep, J K Cements Ltd is experiencing a price increase, currently at Rs 6,855.00, reflecting a rise of 69.0 points or 1.02%. The stock has shown strong performance today, outperforming its sector by 1.29% and achieving consecutive gains for the last four days, resulting in a total return of 6.14% during this period. Notably, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The recent financial results have been favorable, with significant growth in profit before tax and profit after tax, alongside a high level of cash and cash equivalents. Additionally, the stock benefits from high institutional holdings, which suggest confidence from knowledgeable investors. However, it is important to note that the stock is considered very expensive based on its return on capital employed and has a high PEG ratio, which may raise concerns about its valuation.
In the broader market context, J K Cements has outperformed the benchmark Sensex over the past week, with a return of 4.66% compared to the Sensex's 0.88%. While the stock has shown strong year-to-date performance with a return of 49.16%, it has underperformed over the last month, declining by 7.28% against the Sensex's 1.20% increase. This mixed performance highlights the stock's volatility and the potential impact of market conditions on its price movements. Overall, the combination of strong recent performance, institutional support, and positive financial results contributes to the current upward trend in J K Cements' stock price.