Why is Swaraj Engines falling/rising?

As of 15-Sep, Swaraj Engines Ltd is experiencing a price increase, currently valued at Rs 4,472.00, reflecting a rise of Rs 171.0 or 3.98%. The stock has shown strong performance today, outperforming its sector by 3.25% and achieving a consecutive gain over the last two days with a total return of 4.45%. It has also touched an intraday high of Rs 4,476.5. Over the past week, the stock has gained 1.54%, and it has significantly outperformed the benchmark Sensex over various periods, including a year-to-date return of 51.15% compared to the Sensex's 4.67%. The company has demonstrated high management efficiency, with a return on equity (ROE) of 36.97%, and has maintained a low debt-to-equity ratio, contributing to its healthy long-term growth.
In the broader market context, Swaraj Engines' recent performance is particularly notable as it has consistently outperformed the BSE500 over the last three years, generating a return of 162.97% compared to the benchmark's 36.46%. Despite the positive momentum, there are concerns regarding the stock's valuation, as it trades at a premium compared to its peers, with a price-to-book value of 13. This expensive valuation could pose risks, especially as the stock's profits have only risen by 23.3% over the past year, leading to a PEG ratio of 1.4. Nonetheless, the stock's strong fundamentals and consistent positive results over the last five quarters continue to support its upward trajectory.