Why is Laurus Labs falling/rising?

As of 04-Jul, Laurus Labs Ltd is experiencing a price increase, currently at Rs 776.00, reflecting a rise of 17.9 points or 2.36%. The stock has recently hit a new 52-week high of Rs 777.9 and has shown strong performance, gaining 15.92% over the last seven days. It has outperformed its sector by 1.85% today and is trading above all key moving averages, indicating positive momentum. The company has reported impressive financial results, including a 210.5% growth in net profit and a high return on capital employed (ROCE) of 18.50%. However, there is a noted decline in investor participation, with delivery volume decreasing by 40.37% compared to the five-day average.
In the broader market context, Laurus Labs has significantly outperformed the benchmark, generating a return of 70.83% over the past year, while the BSE500 index has only returned 2.13%. This strong performance highlights the company's market-beating capabilities, supported by high institutional holdings at 37.29%. Despite the positive indicators, the stock's valuation appears expensive with a ROCE of 8.8 and a PEG ratio of 1, suggesting that while the stock has been performing well, there are concerns regarding its valuation relative to earnings growth.