Why is Laurus Labs falling/rising?

As of 10-Jul, Laurus Labs Ltd is experiencing a price increase, currently at Rs. 792.85, reflecting a change of 1.85 (0.23%) upward. The stock has been on a positive trajectory, gaining for the last 11 days and achieving a total return of 18.43% during this period. It has also reached a new 52-week high of Rs. 799.4 today. The stock has significantly outperformed the sector by 0.8% and is trading above all key moving averages, indicating strong momentum. Additionally, the company has shown impressive financial performance, with a net profit growth of 210.5% and a return on capital employed (ROCE) of 18.50%, which has attracted high institutional holdings at 37.29%.
In the broader market context, Laurus Labs has outperformed the benchmark index, with a 1-week return of +4.58% compared to the Sensex's -0.06%, and a year-to-date return of +31.63% versus the Sensex's +6.46%. This strong performance highlights the stock's resilience and appeal among investors, particularly in light of its recent positive financial results and high management efficiency. Despite some concerns regarding its valuation, as indicated by a PEG ratio of 1 and a relatively high enterprise value to capital employed, the overall market sentiment remains bullish, contributing to the stock's upward movement.