Why is Nippon Life Ind. falling/rising?

As of 05-Aug, Nippon Life India Asset Management Ltd is experiencing a slight increase in its stock price, currently at 813.50, with a change of 0.1 (0.01%) upward. The stock has shown a positive trend, gaining 1.21% over the last two days and outperforming the benchmark Sensex, which has declined by 0.77% over the past week. Despite a decrease in investor participation, as indicated by a 42.69% drop in delivery volume, the stock remains liquid enough for trading. The company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 24.45% and healthy operating profit growth of 25.05% annually. Additionally, it has achieved record net sales and profits in its latest quarterly results, which supports its recent price movement.
In the broader market context, Nippon Life's performance has been notably strong compared to the Sensex, with a year-to-date return of 11.91% against the benchmark's 3.29%. This trend continues over longer periods, with the stock generating a 34.56% return over the past year, significantly outperforming the Sensex's 2.48% increase. However, the stock's valuation appears high, with a Price to Book Value of 12.3 and a PEG ratio of 3.4, suggesting it may be considered expensive relative to its earnings growth. Despite these valuation concerns, the high institutional ownership indicates confidence in the company's fundamentals, which may contribute to its resilience in the market.