Why is Tilaknagar Inds. falling/rising?

As of 28-Jul, Tilaknagar Industries Ltd is experiencing a rise in its stock price, currently at 509.10, reflecting an increase of 12.1 or 2.43%. The stock has recently hit a new 52-week high of Rs 520.3 and has been on a consecutive gain streak for the last 11 days, resulting in a remarkable 50.33% return during this period. Over the past week, the stock has outperformed the Sensex significantly, with a return of 21.56% compared to the benchmark's decline of 1.59%. The company's strong financial performance, including a net profit growth of 145.85% and consistent positive results over the last four quarters, supports its upward movement. However, the stock is considered expensive with a high Price to Book Value ratio, which may raise concerns among some investors.
In the broader market context, while Tilaknagar Industries has shown impressive short-term performance, the Sensex has faced a decline of 1.59% over the same period. This stark contrast highlights the stock's resilience and attractiveness compared to the overall market. Despite the stock's strong returns, the falling investor participation, indicated by a 49.3% drop in delivery volume, suggests some caution among investors. Additionally, the relatively low stake held by domestic mutual funds may indicate a lack of confidence at current price levels, which could affect future price movements. Overall, while the stock is rising due to strong fundamentals, there are underlying concerns that could impact its sustainability.