Why is Laurus Labs falling/rising?

As of 01-Jul, Laurus Labs Ltd is experiencing a price increase, currently at Rs 746.00, which reflects a rise of 21.1 points or 2.91%. The stock has recently hit a new 52-week high of Rs 749 and has been on a gaining streak for the last four days, accumulating a total return of 11.43% during this period. Additionally, the stock has outperformed its sector by 3.12% today and is trading above all key moving averages, indicating strong momentum. The company has demonstrated impressive financial performance, with a net profit growth of 210.5% and a high return on capital employed (ROCE) of 18.50%. Furthermore, the stock's institutional holdings stand at 37.29%, suggesting confidence from larger investors.
In the broader market context, Laurus Labs has significantly outperformed the benchmark, with a one-year return of 72.99% compared to the BSE500's return of only 3.20%. Over the past week, the stock has risen by 11.29%, while the Sensex has only increased by 2.00%. This strong performance is supported by rising investor participation, as evidenced by a 166.05% increase in delivery volume compared to the five-day average. Despite some concerns regarding its valuation, the stock's robust growth metrics and market-beating performance contribute to its upward trajectory.