Why is Titan Company falling/rising?

As of 23-Oct, Titan Company Ltd's stock price is rising, currently at Rs. 3,771.85, reflecting an increase of 42.9 points or 1.15%. The stock has recently hit a new 52-week high of Rs. 3,797.4, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Over the past week, the stock has gained 3.55%, and it has outperformed the benchmark Sensex, which rose by 1.30%. Despite a significant drop in investor participation, with delivery volume down by 82.41% against the 5-day average, the stock's strong long-term fundamentals, including a 34.28% CAGR growth in operating profits and a high return on equity of 26.02%, contribute positively to its price movement.
In the broader market context, Titan Company has demonstrated impressive performance relative to the benchmark, with a year-to-date return of 15.91% compared to the Sensex's 8.21%. The stock's ability to generate a return of 14.65% over the past year, significantly higher than the market average of 5.59%, further underscores its strong market position. Additionally, the high institutional holdings at 30.27% suggest confidence from more sophisticated investors, which can bolster market sentiment. However, the stock's valuation appears expensive with a ROCE of 23.1 and a PEG ratio of 12, indicating potential risks that investors should consider.