Why is Radico Khaitan falling/rising?

As of 29-Aug, Radico Khaitan Ltd. is experiencing a slight increase in its stock price, currently at 2,846.05, reflecting a change of 5.7 or 0.2% upward. The stock has shown a trend reversal after two consecutive days of decline and is currently 3.35% away from its 52-week high. Over the past month, the stock has outperformed the benchmark with a return of 5.97% compared to the Sensex's decline of 1.88%. Despite a significant drop in delivery volume by 64.97% against the 5-day average, the stock remains liquid enough for trading. The company's strong fundamentals, including a low Debt to EBITDA ratio of 0.96 times and consistent growth in net sales and profit, support its positive performance, although it is trading at a high valuation relative to its earnings growth.
In the broader market context, Radico Khaitan's short-term performance has been more favorable than the Sensex, which has declined by 1.84% over the past week while Radico Khaitan fell by only 1.46%. This indicates that the stock is relatively resilient compared to the overall market. The high institutional holdings at 43.74% suggest confidence from larger investors, which may contribute to the stock's stability. However, the stock's expensive valuation, indicated by a PEG ratio of 1.9, could pose risks if market conditions change or if the company's growth does not meet expectations. Overall, the combination of strong financial performance and a favorable comparison to the benchmark has contributed to the stock's recent upward movement.