Why is SJS Enterprises falling/rising?

As of 19-Sep, S J S Enterprises Ltd is experiencing a price increase, with the current price at 1,473.80, reflecting a rise of 11.75 or 0.8%. The stock has been performing well, gaining 3.24% over the last three days and is currently trading close to its 52-week high, just 1.78% away from Rs 1500. It has outperformed its sector by 1.19% today and is trading above all key moving averages, indicating strong momentum. The company has demonstrated high management efficiency with a return on equity of 16.15%, a low debt-to-equity ratio of 0.02, and has reported positive results for the last six consecutive quarters, including a 24.64% growth in profit after tax. However, the stock is considered expensive with a high price-to-book value of 6.8, which may raise concerns among some investors.
In the broader market context, S J S Enterprises has significantly outperformed the benchmark Sensex, with a 1-week return of 5.34% compared to the Sensex's 0.88%, and a year-to-date return of 27.86% versus the Sensex's 5.74%. This strong performance relative to the benchmark suggests that investor sentiment remains positive towards the stock, despite a recent decline in delivery volume, which fell by 31.24% against the 5-day average. The high institutional holdings at 45.25% further support the stock's stability, as institutional investors typically have the resources to analyze the company's fundamentals effectively. Overall, the combination of strong financial performance and positive market sentiment contributes to the stock's rising price.