Why is Prec. Wires (I) falling/rising?

As of 30-Jun, Precision Wires India Ltd is experiencing a price increase, currently at Rs 188.00, reflecting a rise of Rs 4.6 or 2.51%. The stock has shown strong performance recently, outperforming its sector by 2.39% today and achieving a consecutive gain over the last two days with a total return of 5.03%. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Furthermore, the company has demonstrated consistent returns, generating 16.63% returns over the past year, and has reported positive financial results, including a record net sales figure of Rs 1,054.38 crore and a high return on capital employed (ROCE) of 26.19%. However, the stock is considered expensive with a high price-to-book value and low domestic mutual fund ownership, which may indicate caution among institutional investors.
In the broader market context, Precision Wires has outperformed the benchmark Sensex over various periods, including a 2.40% gain over the past week compared to the Sensex's 2.09% increase, and a year-to-date return of 9.94% versus the Sensex's 7.00%. This strong relative performance suggests that investor sentiment towards Precision Wires remains positive despite some concerns about its valuation and low participation from domestic mutual funds. Overall, the stock's recent upward movement can be attributed to its strong financial performance and consistent returns, although the high valuation and lack of institutional backing may pose risks moving forward.