Why is Laurus Labs falling/rising?

As of 03-Jul, Laurus Labs Ltd is experiencing a slight increase in its stock price, currently at 758.10, reflecting a change of 0.5 (0.07%) upwards. The stock has been on a positive trajectory, gaining 13.24% over the last six days and achieving a new 52-week high of Rs.764.5 today. In terms of performance, Laurus Labs has outperformed the market significantly, with a 73.70% return over the past year compared to the BSE500's 2.20%. The company's strong financial results, including a 210.5% growth in net profit and high management efficiency indicated by a return on capital employed (ROCE) of 18.50%, contribute positively to investor sentiment. Additionally, high institutional holdings at 37.29% suggest confidence from more knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Laurus Labs has shown remarkable short-term performance, with a 22.60% increase over the past month, while the benchmark Sensex has only risen by 3.10%. This stark contrast highlights the stock's strength relative to the market. Despite the positive momentum, there are concerns regarding its valuation, as indicated by a relatively high enterprise value to capital employed ratio of 6.1 and a PEG ratio of 0.9, suggesting that while the stock is performing well, it may be considered expensive compared to its peers. Overall, the combination of strong financial results and significant institutional backing has propelled Laurus Labs' stock price upward, despite some valuation concerns.