Why is Multi Comm. Exc. falling/rising?

As of 26-Jun, Multi Commodity Exchange of India Ltd is experiencing a price increase, currently at Rs 8,835.25, reflecting a rise of Rs 170.5 or 1.97%. The stock has recently hit a new 52-week and all-time high of Rs 8,901, indicating strong upward momentum. Over the past week, the stock has gained 13.49%, and it has outperformed the sector by 0.64% today. Additionally, the stock has shown consistent performance, with a 7.35% increase over the last two days. The company has demonstrated strong long-term fundamentals, with a return on equity of 14.36%, and has reported positive results for the last five consecutive quarters, contributing to its robust growth trajectory.
In the broader market context, the stock's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 2.94% over the same week. The stock's year-to-date return stands at 41.61%, compared to the Sensex's 7.19%, showcasing its strong market position. High institutional holdings at 79.91% suggest confidence from sophisticated investors, further supporting the stock's rise. However, it is important to note that the stock is considered expensive with a price-to-book value of 23.9, despite its impressive returns and growth in profits, which may pose a risk for future valuation adjustments.