Why is Manorama Indust. falling/rising?

As of 14-Jul, Manorama Industries Ltd's stock price is rising, currently at 1,511.85, reflecting an increase of 56.2 or 3.86%. The stock has recently hit a new 52-week high of Rs. 1568 and has outperformed its sector by 5.01%. After experiencing two days of consecutive declines, the stock has shown a trend reversal, gaining today. Over the past week, it has increased by 3.20%, and year-to-date, it has risen by an impressive 41.56%. The company has demonstrated strong financial performance, with net sales growing at an annual rate of 39.66% and operating profit at 58.58%. Additionally, institutional investors have increased their stake, indicating growing confidence in the company's fundamentals.
In the broader market context, while the Sensex has declined by 1.42% over the past week, Manorama Industries Ltd has managed to rise, showcasing its resilience against market trends. The stock's performance over the last year has been exceptional, with a return of 134.25%, significantly outperforming the benchmark's 2.15% increase. This strong performance is supported by consistent positive results over the last three quarters and increasing institutional participation, which suggests a favorable outlook despite the stock's high valuation metrics.