Why is Laurus Labs falling/rising?

As of 14-Jul, Laurus Labs Ltd is experiencing a price increase, with the current price at Rs. 824.20, reflecting a rise of Rs. 34.7 or 4.4%. The stock has recently hit a new 52-week high of Rs. 827.9 and has outperformed its sector by 3.5%. Over the past week, Laurus Labs has shown a return of 6.12%, and over the last month, it has surged by 23.74%. The company has demonstrated strong financial performance, with a net profit growth of 210.5% and positive results for the last two consecutive quarters. Additionally, high institutional holdings at 37.29% suggest confidence from more sophisticated investors, further supporting the stock's upward movement.
In the broader market context, Laurus Labs has significantly outperformed the benchmark Sensex, which has declined by 1.42% over the past week. The stock's year-to-date return of 36.83% also contrasts sharply with the Sensex's 5.27% increase. While the stock's valuation appears expensive with a ROCE of 8.8 and a PEG ratio of 1, its strong performance and high management efficiency contribute to its rising price. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 31.22% against the 5-day average, which could indicate potential risks in sustaining this upward momentum.