Why is Prem. Explosives falling/rising?

As of 31-Oct, Premier Explosives Ltd's stock price is rising, currently at Rs 658.10, reflecting an increase of Rs 34.15 or 5.47%. The stock has shown strong performance recently, gaining 5.57% over the last two days and is only 3.77% away from its 52-week high of Rs 682.9. It has outperformed its sector by 4.57% today and is trading above all key moving averages, indicating positive momentum. Additionally, the company has demonstrated impressive long-term growth, with a net profit increase of 109.55% and a consistent annual operating profit growth rate of 40.68%. Institutional investors are also showing increased interest, raising their stake by 1.75%, which suggests confidence in the company's fundamentals.
In the broader market context, Premier Explosives Ltd has outperformed the Sensex, with a 1-week return of +5.72% compared to the benchmark's -0.32%. Over the past month, the stock has risen by 14.99%, while the Sensex has only increased by 3.65%. This strong relative performance highlights the stock's resilience and attractiveness to investors, particularly in light of its consistent returns over the past three years, where it has outperformed the BSE500. However, it is worth noting that the stock's valuation appears expensive with a Price to Book Value of 14.4, which could pose a risk if market conditions change.