Why is Le Travenues falling/rising?

As of 11-Jun, Le Travenues Technology Ltd's stock price is currently at Rs 187.25, reflecting an increase of Rs 10.55 or 5.97%. The stock has been performing well, having outperformed its sector by 7.12% today and has gained 9.53% over the last three days. It is also close to its 52-week high, being only 4.91% away from Rs 196.45. The company has shown strong financial performance, with net sales growing at an annual rate of 53.20% and operating profit at 58.38%. Additionally, the company has reported positive results for the last three consecutive quarters, which has likely contributed to investor confidence. However, there is a noted decline in investor participation, with delivery volume falling by 23.09% against the 5-day average.
In the broader market context, Le Travenues has outperformed the Sensex, which has increased by 1.87% over the past week, while Le Travenues itself has risen by 3.97%. This indicates that the stock is gaining traction relative to the overall market. The high institutional holdings at 69.22% suggest that knowledgeable investors are backing the stock, which may further bolster its price. However, the stock's valuation appears expensive with a Price to Book Value of 11.5, and while it has generated no return over the past year, its profits have increased by 19%. This combination of strong recent performance and institutional support, despite some valuation concerns, is likely driving the stock's upward movement.