Why is Manorama Indust. falling/rising?

As of 21-Jul, Manorama Industries Ltd is experiencing a price increase, currently at Rs 1,570.40, which reflects a rise of 15.4 points or 0.99%. The stock has shown a positive trend today, gaining after three consecutive days of decline, and opened with a gain of 2.24%. It is currently trading close to its 52-week high, just 2.98% away from Rs 1,617.15. Over the past week, the stock has increased by 3.87%, and it has significantly outperformed the benchmark Sensex, which has seen a slight decline of 0.06%. The company has demonstrated strong long-term growth, with net sales increasing at an annual rate of 39.66% and operating profit rising by 58.58%. Furthermore, the stock has consistently delivered impressive returns, generating 145.64% over the past year and outperforming the BSE500 in each of the last three annual periods.
In the broader market context, while Manorama Industries Ltd has shown robust short-term performance, the Sensex has been relatively flat, indicating that the stock's rise is not in line with the overall market trend. Despite a significant increase in its stock price, there are concerns regarding falling investor participation, as evidenced by a 51.02% drop in delivery volume compared to the five-day average. Additionally, the stock's valuation appears expensive with a ROCE of 19.9 and an enterprise value to capital employed ratio of 11.5, although it trades at a discount compared to its peers. These factors suggest that while the stock is currently rising, there are underlying risks that could affect its future performance.