Why is CEAT falling/rising?

As of 13-Oct, CEAT Ltd's stock price is currently at 3,567.90, reflecting an increase of 31.7 points or 0.9%. The stock has shown a positive performance today, outperforming its sector by 1.39% and has gained consecutively over the last two days, with a total return of 1.92% during this period. CEAT has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Furthermore, the stock has demonstrated impressive returns over various periods, including an 18.59% increase over the past year and a remarkable 141.28% rise over the last three years. Positive factors contributing to this upward movement include healthy long-term growth in net sales and operating profit, attractive valuation metrics, and high institutional holdings, which have increased by 0.68% over the previous quarter.
In the broader market context, CEAT's short-term return of 2.83% over the past week significantly outpaces the Sensex's return of 0.66%, indicating strong relative performance. The stock's year-to-date return of 10.12% also surpasses the Sensex's 5.36% return, further highlighting its resilience in the market. Despite some negative factors, such as a decline in profits and flat results in the last quarter, the overall positive sentiment driven by institutional investment and consistent historical returns suggests that CEAT is well-positioned for continued growth.