Why is Manorama Indust. falling/rising?

As of 30-Jun, Manorama Industries Ltd is experiencing a price increase, currently at Rs 1,462.20, reflecting a rise of Rs 23.3 or 1.62%. The stock has shown strong performance today, outperforming its sector by 1.44% and has been on a consecutive gain streak for the last three days, accumulating a total return of 6.96% during this period. Additionally, the stock is close to its 52-week high, being only 3.95% away from Rs 1,519.95. Over the past year, the stock has delivered impressive returns of 131.05%, significantly outpacing the BSE 500 index. The company has also reported robust financial growth, with net sales increasing at an annual rate of 39.66% and a net profit growth of 43.14%, which has positively influenced investor sentiment.
In the broader market context, the stock's short-term return of 11.67% over the past week is substantially higher than the Sensex's return of 2.09%, indicating strong relative performance. The increase in institutional investor participation, with a 0.71% rise in their stake, suggests growing confidence in the company's fundamentals. However, there are concerns regarding the stock's high valuation, as indicated by a ROCE of 19.9 and a PEG ratio of 0.4, which may pose risks for future growth. Despite these concerns, the overall positive financial results and consistent returns over the past three years have contributed to the stock's upward momentum.