Why is CEAT falling/rising?

As of 22-Aug, CEAT Ltd's stock price is currently at 3,178.50, reflecting a slight increase of 0.5 (0.02%). The stock has shown a trend reversal by gaining after three consecutive days of decline. It has outperformed its sector by 0.43% today, and there has been a notable increase in investor participation, with delivery volume rising by 61.84% compared to the five-day average. Over the past week, the stock has increased by 2.74%, while it has experienced a decline of 9.03% over the past month. Despite a year-to-date decline of 1.90%, the stock has generated a positive return of 11.02% over the past year, indicating strong long-term growth potential despite recent profit declines of 32.9%.
In the broader market context, CEAT's performance stands out as it has outperformed the benchmark Sensex, which has only gained 0.88% over the past week. The stock's ability to generate returns in a market that has seen negative performance, such as the BSE500's decline of 2.49% over the past year, highlights its resilience. Additionally, the stock is trading at a discount compared to its peers, supported by high institutional holdings of 37.47%, which have increased by 0.68% in the previous quarter. This suggests that institutional investors are confident in the company's fundamentals, contributing to the stock's recent upward movement.