Why is Niva Bupa Health falling/rising?

As of 10-Jul, Niva Bupa Health Insurance Company Ltd's stock price is currently at 90.36, reflecting an increase of 1.23 or 1.38%. The stock has shown strong performance recently, with a 7.02% gain over the last two days and a notable outperformance against its sector by 0.45% today. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has demonstrated robust long-term growth, with a 160.87% compound annual growth rate (CAGR) in operating profits and a significant increase in net sales and profits, which has positively influenced investor sentiment.
In the broader market context, Niva Bupa's stock has outperformed the Sensex over the past week, with a return of 10.30% compared to a slight decline of 0.06% for the benchmark. This strong performance is supported by rising investor participation, as evidenced by a 334.52% increase in delivery volume. However, despite these positive indicators, the stock is considered expensive with a price-to-book value of 8.1 and a return on equity (ROE) of 10.4, which may raise concerns among some investors. Overall, the combination of strong financial results and positive market momentum has contributed to the stock's recent rise.