Why is Laurus Labs falling/rising?

As of 15-Jul, Laurus Labs Ltd is experiencing a price increase, currently at 827.10, reflecting a rise of 2.9 (0.35%). The stock has recently hit a new 52-week high of Rs.834.45 and has shown a strong performance with a consecutive gain over the last two days, resulting in a 4.76% increase during this period. Additionally, the stock has outperformed the market significantly, with a 77.41% return over the past year compared to the BSE500's return of only 0.37%. The company has also demonstrated high management efficiency and strong financial results, including a 210.5% growth in net profit and positive results for the last two consecutive quarters, which contribute to investor confidence.
In the broader market context, Laurus Labs has outperformed the benchmark index, the Sensex, with a 6.43% increase over the past week while the index has declined by 1.36%. This strong performance is further supported by rising investor participation, as indicated by a significant increase in delivery volume. However, it is important to note that the stock is considered expensive based on its valuation metrics, which may pose a risk for some investors. Despite this, the high institutional holdings at 37.29% suggest that knowledgeable investors are backing the stock, reinforcing its upward momentum in the current market environment.