Why is Multi Comm. Exc. falling/rising?

As of 03-Jul, Multi Commodity Exchange of India Ltd is experiencing a price increase, currently at 9,002.25, reflecting a rise of 57.25 or 0.64%. The stock is trading close to its 52-week high, just 1.2% away from Rs 9110, and has outperformed its sector by 1.16% today. Over the past week, the stock has gained 1.89%, and it has shown impressive returns of 31.61% over the past month and 128.99% over the last year. The company has demonstrated strong long-term fundamentals, with a robust average Return on Equity (ROE) of 14.36% and significant growth in net sales and operating profit. Additionally, high institutional holdings at 79.91% indicate confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, the stock's recent performance contrasts positively with the Sensex, which has declined by 0.62% over the past week. While the stock has shown strong returns in both the short and long term, it is important to note that there has been a slight decrease in investor participation, with delivery volume falling by 1.21% against the 5-day average. Despite this, the stock remains liquid enough for trading, and its valuation, while considered expensive, is trading at a discount compared to peers. Overall, the combination of strong fundamentals, institutional support, and market-beating performance contributes to the stock's rising price.