Why is CEAT falling/rising?

As of 30-Jul, CEAT Ltd's stock price is currently at 3,389.45, reflecting an increase of 39.15 or 1.17%. The stock has been gaining for the last two days, with a total return of 2.11% during this period. Despite a recent decline of 3.02% over the past week and 8.09% over the past month, the stock has shown strong performance year-to-date with a return of 4.61% and an impressive 24.72% over the past year. The stock is trading above its 100-day and 200-day moving averages, although it is below its 5-day, 20-day, and 50-day moving averages. However, there has been a notable decrease in investor participation, with delivery volume falling by 72.91% compared to the 5-day average.
In the broader market context, while CEAT has outperformed the BSE500, which has seen negative returns of 2.34% over the past year, the stock's recent gains can be attributed to its healthy long-term growth, with net sales increasing at an annual rate of 17.13% and operating profit at 19.67%. The stock is also trading at a discount compared to its peers, supported by high institutional holdings of 37.47%, which have increased by 0.68% over the previous quarter. Despite the positive aspects, it is important to note that the company's profits have decreased by 32.9% over the past year, which could be a concern for investors.