Why is Manorama Indust. falling/rising?

As of 22-Jul, Manorama Industries Ltd is experiencing a price increase, currently at Rs 1,593.00, reflecting a rise of 22.6 points or 1.44%. The stock has outperformed its sector by 2.95% today and has been on a consecutive gain for the last two days, accumulating a total return of 2.44%. It is also close to its 52-week high, being only 1.52% away from Rs 1,617.15. Over the past month, the stock has shown a significant increase of 17.47%, and it has delivered an impressive 156.11% return over the past year, outperforming the BSE500 index consistently during this period. The company has reported strong financial results, with net sales and operating profit growing substantially, which has contributed to positive investor sentiment.
In the broader market context, while the Sensex has seen a slight decline of 0.47% over the past week, Manorama Industries Ltd has shown a negative return of 0.93% in the same timeframe, indicating a slight underperformance relative to the benchmark. However, the stock's long-term performance remains robust, with a remarkable 570.99% increase over the last three years, suggesting strong fundamentals despite recent fluctuations. The stock is currently trading at a premium compared to its historical valuations, which may indicate a high valuation risk, but the company's consistent growth in net profit and sales has kept investor interest high, supporting its recent price rise.