Why is Blue Jet Health falling/rising?

As of 07-Aug, Blue Jet Healthcare Ltd is experiencing a price increase, currently at Rs 778.70, reflecting a rise of Rs 17.3 or 2.27%. Today's price summary indicates that the stock outperformed its sector by 2.69%, reaching an intraday high of Rs 797.6, although it also touched a low of Rs 745.05 during the day. Over the past week, the stock has seen a decline of 3.39%, and over the past month, it has dropped 13.41%. However, it has shown strong performance year-to-date with a gain of 37.23% and a remarkable 55.29% increase over the past year, significantly outpacing the benchmark Sensex, which has only risen by 1.45% in the same timeframe. The company has demonstrated strong long-term fundamentals, with a healthy growth in net sales and operating profit, alongside a low debt-to-equity ratio, contributing positively to its stock performance.
In the broader market context, while the stock has faced short-term challenges reflected in its recent declines, it has managed to outperform the benchmark significantly over longer periods. The BSE500 index has generated negative returns of -1.34% in the last year, contrasting sharply with Blue Jet's impressive 55.29% return. Despite a recent drop in investor participation, as indicated by a 54.88% decrease in delivery volume, the stock remains liquid enough for trading. The company's strong fundamentals, including consistent positive quarterly results and substantial growth in profit after tax, suggest that the recent price increase may be driven by investor confidence in its long-term prospects, despite short-term volatility.