Why is Muthoot Finance falling/rising?

As of 16-Sep, Muthoot Finance Ltd's stock price is rising, currently at 2,988.20, reflecting an increase of 50.1 or 1.71%. The stock has recently hit a new 52-week high of Rs. 2996.1 and has outperformed its sector by 1.32%. Over the past three days, the stock has gained 3.77%, and it is trading above all key moving averages, indicating strong momentum. Additionally, the company has demonstrated robust financial performance, with a net profit growth of 65.12% and positive results for the last nine consecutive quarters, which has contributed to its strong buy rating. However, there is a noted decline in investor participation, with delivery volume falling by 61.43% against the five-day average, which could indicate some caution among investors.
In the broader market context, Muthoot Finance's short-term return of 1.51% over the past week is slightly below the benchmark Sensex's return of 1.58%. Despite this, the stock has significantly outperformed the benchmark over longer periods, with a year-to-date return of 39.57% compared to the Sensex's 5.43%. The company's high institutional holdings at 23.05% suggest confidence from larger investors, further supporting the stock's upward movement. However, the stock's expensive valuation, indicated by a price-to-book value of 4.1, may pose risks if market conditions change or if the company's growth slows.