Why is Tilaknagar Inds. falling/rising?

As of 01-Aug, Tilaknagar Industries Ltd is experiencing a price increase, currently at 505.30, reflecting a rise of 12.9 or 2.62%. The stock has shown strong performance today, having outperformed its sector by 3.77% and is just 3.62% away from its 52-week high of Rs 524. Notably, the stock has gained after two consecutive days of decline and is trading above all key moving averages. Over the past week, Tilaknagar has delivered a return of 1.67%, significantly outperforming the Sensex, which has declined by 1.06%. The company has demonstrated healthy long-term growth, with an annual operating profit growth rate of 35.95% and a net profit increase of 145.85%, contributing to its positive momentum.
In the broader market context, while Tilaknagar has shown impressive returns, with a 102.93% increase over the past year, the Sensex has only risen by 3.15% year-to-date. This stark contrast highlights the stock's strong performance relative to the market. However, there are concerns regarding its valuation, as it is considered expensive with a Price to Book Value of 11.1, and domestic mutual funds hold only a small stake of 1.65%, which may indicate hesitance at current price levels. Despite these risks, the stock's consistent returns over the last three years and positive quarterly results suggest a robust underlying business, supporting its recent price rise.