Why is Prem. Explosives falling/rising?

As of 19-Sep, Premier Explosives Ltd is experiencing a price increase, currently at Rs 624.90, reflecting a rise of 12.9 points or 2.11%. The stock has shown strong performance today, outperforming its sector by 2.44% and achieving a consecutive gain over the last three days, with a total return of 14.34% during this period. It has also reached an intraday high of Rs 630.05. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Despite a slight decline in delivery volume, the company has demonstrated healthy long-term growth, with a significant increase in operating profit and net profit, which has contributed to its recent upward movement.
In the broader market context, Premier Explosives has outperformed the Sensex significantly, with a 1-week return of 12.23% compared to the benchmark's 0.88%, and a 1-month return of 24.98% against 1.20%. This strong performance over various periods highlights the stock's resilience and attractiveness to investors. However, it is important to note that while the stock has shown impressive returns, it is also considered to have a very expensive valuation with a high Price to Book Value ratio, which may pose risks for potential investors. Overall, the combination of strong financial results and consistent returns over the past few years has bolstered investor confidence, contributing to the stock's rising price.