Why is Times Guaranty falling/rising?

As of 29-Jul, Times Guaranty Ltd's stock price is rising, currently at 285.35, reflecting an increase of 44.05 or 18.26%. The stock has recently hit a new 52-week and all-time high of Rs. 289.55 today, and it has outperformed its sector by 17.8%. Over the last four days, the stock has gained 52.59%, and it opened with a gain of 2.36% today. The stock has shown strong performance over various periods, with a year-to-date increase of 75.06% and a remarkable 119.50% rise over the past year. However, despite these gains, there are concerns regarding its long-term fundamental strength, as indicated by a low average Return on Equity (ROE) of 6.13% and a high Price to Book Value ratio of 4.5, suggesting it may be overvalued compared to peers.
In the broader market context, Times Guaranty's short-term performance stands in stark contrast to the benchmark Sensex, which has declined by 1.03% over the past week. This significant outperformance highlights the stock's strong momentum, driven by rising investor participation and consistent returns over the last three years. While the stock's recent gains are impressive, the underlying concerns about its long-term growth potential and valuation may temper investor enthusiasm moving forward.