Why is Kaynes Tech falling/rising?

As of 02-Jul, Kaynes Technology India Ltd is experiencing a price increase, currently at Rs 6,283.40, reflecting a rise of Rs 142.1 or 2.31%. The stock has been on an upward trend, gaining for the last four consecutive days and achieving a total return of 8.89% during this period. It has outperformed its sector by 2.83% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a significant drop in delivery volume by 53.39% against the 5-day average, the company has shown strong financial performance, with a net profit growth of 74.84% and a year-over-year return of 58.60%, which is substantially higher than the market average. However, the stock is considered expensive with a high Price to Book Value ratio and a decreasing promoter stake, which may indicate some underlying concerns.
In the broader market context, Kaynes Technology has outperformed the benchmark Sensex in the short term, with a 1-week return of 7.31% compared to the Sensex's 0.79%. This strong performance highlights the stock's resilience and attractiveness to investors despite the noted risks, such as high valuation and reduced promoter confidence. The company's robust sales growth and market-leading position within its sector contribute positively to its recent price movement, even as it faces challenges related to investor participation and valuation metrics.