Why is Laurus Labs falling/rising?

As of 23-Jul, Laurus Labs Ltd is experiencing a slight increase in its stock price, currently at 823.00, reflecting a change of 1.4 (0.17%) upward. The stock is currently 1.39% away from its 52-week high of Rs 834.45. Over the past week, Laurus Labs has shown a return of +0.17%, which is slightly better than the Sensex's +0.11%. The stock has performed exceptionally well over the longer term, with a 1-year return of 91.35%, significantly outperforming the Sensex's 2.86%. However, it has underperformed its sector by -0.34% today, and there has been a notable decrease in investor participation, with delivery volume falling by 35.47% compared to the 5-day average. The company has demonstrated high management efficiency and strong financial results, including a net profit growth of 210.5% and high institutional holdings at 37.29%, which contribute positively to investor sentiment.
In the broader market context, Laurus Labs' short-term performance is slightly better than the benchmark, as it has returned +0.17% over the past week compared to the Sensex's +0.11%. The stock's long-term performance remains robust, with significant gains over 1 year (+91.35%) and 3 years (+61.69%), indicating strong market confidence. Despite its expensive valuation and a PEG ratio of 1, which suggests potential overvaluation, the stock's historical performance and positive financial results have kept investor interest alive. However, the recent decline in delivery volume may raise concerns about liquidity and investor engagement moving forward.