Why is Manorama Indust. falling/rising?

As of 15-Jul, Manorama Industries Ltd is experiencing a price increase, currently at Rs. 1,608.00, reflecting a rise of 96.15 (6.36%). The stock has recently hit a new 52-week high of Rs. 1,617.15 and has outperformed its sector by 4.86%. Over the past two days, the stock has gained 10.47%, and it is trading above all key moving averages, indicating strong momentum. The company has shown impressive long-term growth with net sales increasing at an annual rate of 39.66% and operating profit at 58.58%. Additionally, institutional investors have increased their stake, which suggests growing confidence in the company's fundamentals.
In the broader market context, Manorama Industries Ltd has significantly outperformed the Sensex, with a 1-week return of +10.69% compared to the benchmark's -1.36%. This trend continues over longer periods, with the stock achieving a remarkable 144.01% return over the past year, while the Sensex only gained 2.36%. The rising investor participation, evidenced by a 97.77% increase in delivery volume, further supports the stock's upward movement. Despite its high valuation metrics, the stock's strong performance relative to the market and consistent positive results over the last three quarters contribute to its rising price.