Why is PNB Housing falling/rising?

As of 16-Jul, PNB Housing Finance Ltd's stock price is currently at 1,105.35, reflecting an increase of 3.35 (0.3%). The stock has been on an upward trend, gaining for the last three days with a total return of 3.01% during this period. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Additionally, the stock has shown impressive performance over various time frames, with a year-to-date return of 25.61% and a remarkable 302.93% increase over the past three years. The company's consistent positive results over the last ten quarters, including record net sales and operating profit margins, along with a favorable price-to-book ratio, contribute to its attractive valuation and support the recent price rise.
In the broader market context, PNB Housing has outperformed the Sensex, which has declined by 1.08% over the past week while PNB Housing gained 0.90%. This trend of outperformance is evident over longer periods as well, with the stock generating a 38.17% return in the last year compared to the Sensex's 2.38%. The high institutional ownership at 51.32% suggests strong confidence from knowledgeable investors, further bolstering the stock's upward trajectory. Despite underperforming its sector slightly today, the rising investor participation and liquidity indicate a robust trading environment, which may continue to support the stock's price movement.