Why is SJS Enterprises falling/rising?

As of 22-Sep, S J S Enterprises Ltd is experiencing a price increase, currently at Rs. 1,500.50, reflecting a rise of 19.3 points or 1.3%. The stock has recently hit a new 52-week and all-time high of Rs. 1,514.9, and it has outperformed its sector by 2.01%. Over the past four days, the stock has shown a consecutive gain, rising by 5.11%. Additionally, the company has demonstrated strong performance over various time frames, with a year-to-date return of 30.17% and a remarkable 52.40% return over the past year. The company's high management efficiency, indicated by a return on equity (ROE) of 16.15%, low debt-to-equity ratio of 0.02, and consistent positive quarterly results contribute positively to investor sentiment.
In the broader market context, S J S Enterprises has significantly outperformed the Sensex, which has only increased by 0.46% over the past week, while the stock itself has risen by 4.46%. This trend of outperformance is consistent, as the stock has outperformed the BSE500 in each of the last three annual periods. However, there are some risks to consider, such as its high valuation with a price-to-book value of 6.9, which is above the average historical valuations of its peers. Despite these concerns, the strong institutional holdings at 45.25% suggest a level of confidence from more sophisticated investors, which may further support the stock's upward movement.