Why is Jash Engineering falling/rising?

As of 17-Jul, Jash Engineering Ltd's stock price is rising, currently at Rs 611.65, reflecting an increase of Rs 30.7 or 5.28%. The stock has shown strong performance recently, gaining 6.85% over the last three days and outperforming its sector by 3.72% today. It is also close to its 52-week high, just 3.63% away from Rs 633.85. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.58 times and positive results for the last 11 consecutive quarters, including a net profit after tax of Rs 87.20 crore and record net sales of Rs 300.38 crore. However, it is worth noting that despite these positive indicators, the stock is considered expensive with a Price to Book Value of 8.9, and domestic mutual funds hold only a minimal stake of 0.07%, which may indicate some caution among institutional investors.
In the broader market context, Jash Engineering's short-term return of +4.83% over the past week stands in stark contrast to the Sensex, which has declined by 1.12% during the same period. This significant outperformance highlights the stock's strength relative to the overall market. Additionally, while the stock has generated a flat return of 0.00% over the past year, its profits have increased by 31.4%, suggesting that the market may be undervaluing the company's growth potential despite its high valuation metrics.