Why is Lumax Auto Tech. falling/rising?

As of 17-Jul, Lumax Auto Technologies Ltd is experiencing a price increase, currently at Rs 1,151.20, reflecting a rise of 11.3 points or 0.99%. The stock has shown strong performance, with a 1-week return of 1.25% and a 1-month return of 8.60%, significantly outperforming the Sensex, which has declined by 1.12% over the same period. Today's trading saw the stock reach an intraday high of Rs 1,200, just 4.93% away from its 52-week high. Despite a decrease in delivery volume by 39% compared to the 5-day average, the stock remains liquid enough for trading. The company's strong fundamentals, including a high return on capital employed (ROCE) of 17.74% and consistent positive results over the last three quarters, contribute to investor confidence and the stock's upward movement.
In the broader market context, Lumax Auto Technologies Ltd has outperformed the Sensex, which has only gained 5.27% year-to-date compared to the stock's impressive 78% increase. This strong performance is supported by high institutional holdings at 21.4%, indicating confidence from more sophisticated investors. However, the stock's valuation appears expensive with a PEG ratio of 1.2, suggesting that while the stock has performed well, it may be trading at a premium compared to its earnings growth. Overall, the combination of solid financial performance and favorable market conditions has led to the stock's rising price.