Why is Le Travenues falling/rising?

As of 01-Sep, Le Travenues Technology Ltd's stock price is rising, currently at Rs. 297.50, reflecting an increase of Rs. 27.1 or 10.02%. The stock has recently hit a new 52-week and all-time high of Rs. 300.25, demonstrating strong performance today by outperforming its sector by 10.28%. After three consecutive days of decline, the stock has reversed its trend, trading above all key moving averages. Over the past week, it has gained 3.59%, and over the past month, it has surged by 29.21%, significantly outperforming the Sensex, which has seen a decline of 1.56% in the same period. The company has shown robust financial health with a low debt-to-equity ratio and impressive growth in net sales and operating profit, which has likely contributed to the positive momentum in its stock price.
In the broader market context, while the stock has generated an impressive return of 81.24% over the past year, the benchmark Sensex has experienced a decline of 2.43%. This stark contrast highlights the stock's strong market-beating performance, especially in a challenging market environment where the BSE500 has reported negative returns of -4.75% over the last year. However, there are concerns regarding the stock's high valuation, with a Price to Book Value of 18.1, and a relatively low return on equity of 8.9%. Despite these risks, the high institutional ownership at 70.84% suggests confidence from knowledgeable investors, which may further support the stock's upward trajectory.