Why is Tanfac Inds. falling/rising?

As of 19-Sep, Tanfac Industries Ltd is experiencing a slight increase in its stock price, currently at Rs 4,788.45, reflecting a change of 9.7 points or 0.2% upward. The stock has shown strong performance recently, gaining 7.33% over the last three days and outperforming its sector by 0.53% today. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has reported impressive growth metrics, with net sales increasing by 84.58% and a consistent record of positive results over the last four quarters. However, the stock's high valuation, with a Price to Book Value of 15.3, may raise concerns among investors, especially given the low domestic mutual fund ownership of only 0.12%.
In the broader market context, Tanfac Industries has significantly outperformed the benchmark Sensex, with a year-to-date return of 60.31% compared to the Sensex's 5.74%. Over the past year, the stock has generated a remarkable return of 131.55%, while the Sensex has declined by 0.67%. This strong performance relative to the benchmark highlights investor confidence in Tanfac Industries, despite some concerns regarding its valuation and low mutual fund interest. The rising investor participation, evidenced by a 70.88% increase in delivery volume, further supports the stock's upward movement in the current market environment.