Why is Manorama Indust. falling/rising?

As of 09-Jul, Manorama Industries Ltd is experiencing a price increase, currently at Rs 1,505.00, reflecting a rise of Rs 52.3 or 3.6%. The stock has shown strong performance today, opening with a gain of 3.14% and reaching an intraday high of Rs 1,507.45. It is also close to its 52-week high, being only 2.14% away from Rs 1,537.15. Over the past week, the stock has outperformed the sector by 3.9% and has demonstrated significant growth with a year-to-date increase of 40.92% and a remarkable 130.70% rise over the past year. The company has reported healthy long-term growth, with net sales and operating profit increasing significantly, which has likely contributed to the positive sentiment surrounding the stock. Additionally, rising institutional investor participation and consistent returns over the last three years further bolster confidence in the stock's performance.
In the broader market context, Manorama Industries Ltd has outperformed the Sensex, which has only increased by 0.15% over the past week, while the stock itself has risen by 6.28%. This indicates a strong relative performance compared to the benchmark. The stock's liquidity is also favorable, with a delivery volume that has increased significantly, suggesting heightened investor interest. Despite its strong performance, the stock's valuation is considered very expensive, which could pose risks if market conditions change. However, the overall positive results and growth trajectory of the company appear to outweigh these concerns for the time being.