Why is MPS falling/rising?

As of 18-Sep, MPS Ltd. is experiencing a slight increase in its stock price, currently at 2,261.00, reflecting a change of 1.0 (0.04%) upward. The stock has shown a positive performance over the last five days, gaining 4.6%, although it underperformed its sector by 0.3% today. Despite this recent gain, the stock's delivery volume has decreased significantly by 31.12% compared to the five-day average, indicating a potential decline in investor participation. The company has consistently reported positive results over the last four quarters, with a high return on capital employed (ROCE) of 40.65% and significant growth in profit before tax and profit after tax. However, the stock is considered expensive with a high price-to-book value of 8.1, which may deter some investors.
In the broader market context, MPS Ltd. has outperformed the Sensex over various time frames, including a year-to-date return of 13.71% compared to the Sensex's 6.24%. This strong performance over the long term, including a remarkable 222.33% increase over three years, suggests that the stock has been resilient. However, the declining participation from domestic mutual funds, which hold only 0.18% of the company, may indicate a lack of confidence at current price levels. Overall, while MPS Ltd. has shown strong historical returns and financial performance, the combination of high valuation and reduced investor activity could be influencing its stock price movements.