Why is MPS falling/rising?

As of 22-Sep, MPS Ltd. is experiencing a price increase, currently at 2,281.70, reflecting a rise of 7.75 or 0.34%. The stock has shown strong performance recently, gaining 5.56% over the last seven days and outperforming its sector by 0.62% today. It opened with a gain of 3.12% and reached an intraday high of Rs 2345. Over the past year, MPS has generated an impressive return of 11.66%, significantly outperforming the broader market, which has seen negative returns of -2.82%. The company has also reported positive financial results for the last four consecutive quarters, with a high return on capital employed (ROCE) of 40.65% and substantial growth in profit before tax and profit after tax.
In the broader market context, MPS Ltd.'s short-term performance of +3.63% over the past week stands in stark contrast to the Sensex, which has only gained 0.46% in the same period. Despite the stock's strong performance, there are concerns regarding its high valuation, as indicated by a price-to-book value of 8.2, which is above its peers' average. Additionally, domestic mutual funds hold a minimal stake of only 0.18%, suggesting a lack of confidence in the stock's current price level. However, the company's low debt-to-equity ratio and high dividend yield of 3.64% may continue to attract investors, contributing to its recent price rise.