Why is Nippon Life Ind. falling/rising?

As of 20-Oct, Nippon Life India Asset Management Ltd's stock price is rising, currently at 951.00, reflecting an increase of 36.6 or 4.0%. The stock has recently hit a new 52-week high of Rs. 959 and has outperformed its sector by 3.27%. Over the past two days, it has gained 7.11%, and it is trading above all key moving averages, indicating strong momentum. The stock has also seen a significant increase in investor participation, with delivery volume rising by 42.39% against the 5-day average. The company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 24.45% and healthy growth in operating profit, which has grown at an annual rate of 25.05%. However, it is important to note that the stock is considered very expensive with a Price to Book Value of 14.4, and while it has generated a return of 35.09% over the past year, its profits have only risen by 12.2%, leading to a high PEG ratio of 4.
In the broader market context, the stock's short-term performance has significantly outpaced the benchmark, with a 1-week return of 7.59% compared to the Sensex's 2.47%. Over the last month, Nippon Life has achieved a return of 13.86%, while the Sensex has only returned 2.10%. This strong relative performance indicates that investor sentiment towards Nippon Life is positive, likely driven by its solid fundamentals and recent financial results. The high institutional holdings at 21.05% further suggest confidence among sophisticated investors, which may contribute to the stock's upward trajectory.