Why is Swaraj Engines falling/rising?

As of 23-Sep, Swaraj Engines Ltd is experiencing a price increase, currently at Rs 4,502.00, reflecting a rise of Rs 90.7 or 2.06%. The stock has shown a positive trend today, having gained after three consecutive days of decline and outperforming its sector by 1.68%. It is also trading close to its 52-week high, just 4.97% away from Rs 4,725.95. Over the past week, the stock has increased by 2.34%, and it has delivered impressive returns of 52.16% year-to-date, significantly outperforming the benchmark Sensex, which has only risen by 5.07% during the same period. The company has demonstrated strong financial performance, with consistent growth in net sales and operating profit, and has declared positive results for the last five consecutive quarters, contributing to investor confidence.
In the broader market context, Swaraj Engines' recent performance contrasts sharply with the Sensex, which has declined by 0.34% over the past week. The stock's strong returns over various periods, including a remarkable 165.49% increase over the last three years, highlight its resilience and appeal to investors. However, there are concerns regarding its valuation, as it trades at a premium compared to peers, with a Price to Book Value of 13. Despite this, the company's low debt-to-equity ratio and high management efficiency, indicated by a return on equity of 36.97%, suggest a solid foundation for continued growth, which may help mitigate some of the risks associated with its valuation.