Why is SRF falling/rising?

As of 15-Oct, SRF Ltd. is experiencing a rise in its stock price, currently at 3,086.95, reflecting an increase of 44.0 points or 1.45%. The stock has shown strong performance today, outperforming its sector by 0.83% and reaching an intraday high of Rs 3,129, which is a 2.83% increase. Over the past week, SRF has gained 4.00%, and its year-to-date return stands at an impressive 38.38%. The company benefits from high management efficiency, a low debt-to-EBITDA ratio, and healthy long-term growth in net sales and operating profit. Additionally, SRF has a significant institutional holding of 37.55%, indicating confidence from larger investors, which supports its recent price movement.
In the broader market context, SRF's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 1.02% over the same week. Despite a challenging market environment where the BSE500 has reported negative returns over the past year, SRF has managed to deliver a return of 31.36%, showcasing its resilience and market-beating performance. However, it is worth noting that the stock's valuation appears expensive, with a high PEG ratio of 3.9, which could pose risks if profit growth does not keep pace with its stock price increase.