Why is Apar Inds. falling/rising?

As of 17-Nov, Apar Industries Ltd is experiencing a price increase, currently at 9,225.10, reflecting a rise of 136.85 or 1.51%. The stock has shown strong performance recently, gaining 4.25% over the last two days and outperforming its sector by 0.36% today. It reached an intraday high of Rs 9300, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a decline in delivery volume by 17.06% against the 5-day average, the stock maintains a healthy liquidity level for trading. Over the past week, Apar Industries has outperformed the Sensex, with a return of 11.48% compared to the benchmark's 1.69%.
In the broader market context, Apar Industries' recent performance is notably strong, especially in the short term, as it significantly outpaces the Sensex. The company benefits from strong long-term fundamentals, including a robust average return on equity of 21.80% and impressive growth in net sales and operating profit. Furthermore, the stock has shown consistent positive results over the last three quarters, which bolsters investor confidence. High institutional holdings at 31.88% indicate that knowledgeable investors are backing the stock, further supporting its upward movement. Overall, these factors contribute to the stock's rising price amidst a favorable market environment.