Why is Tanfac Inds. falling/rising?

As of 20-Aug, Tanfac Industries Ltd is experiencing a price increase, currently priced at 4,813.85, reflecting a rise of 105.7 or 2.25%. The stock has recently hit a new 52-week and all-time high of Rs 4978, outperforming its sector by 3.17%. Over the past week, Tanfac has shown a strong performance with a return of 9.14%, and it has gained 120.80% over the past year, significantly outpacing the BSE500 index. The company has demonstrated healthy growth, with net sales increasing by 84.58% and positive results reported for the last four consecutive quarters. However, despite its strong performance, the stock is considered expensive with a high Price to Book Value ratio of 18.4, which may raise concerns among investors.
In the broader market context, Tanfac's short-term performance of 9.14% over the past week compares favorably against the Sensex, which has only increased by 1.64% in the same period. This indicates that Tanfac is not only performing well on its own but is also significantly outperforming the broader market. The rising investor participation, as evidenced by an increase in delivery volume, suggests growing confidence in the stock, despite the relatively low holdings by domestic mutual funds, which may indicate some caution regarding its current valuation. Overall, Tanfac's strong financial performance and recent price movements reflect a positive sentiment among investors, contributing to its rising stock price.