Why is CEAT falling/rising?

As of 20-Oct, CEAT Ltd's stock price is rising, currently at Rs. 4,201.55, reflecting an increase of Rs. 468.45 or 12.55%. The stock has recently hit a new 52-week and all-time high of Rs. 4,251.7, and has outperformed its sector by 8.68%. Over the past four days, CEAT has shown a consecutive gain, rising 20.95% during this period. The stock's performance has been strong across various time frames, with a year-to-date return of 29.68% and a one-year return of 42.38%. Positive factors contributing to this rise include healthy long-term growth in net sales and operating profit, high institutional holdings, and a fair valuation compared to peers, despite a slight decline in profits over the past year.
Broader market context indicates that CEAT's short-term performance significantly outpaces the benchmark, with a one-week return of 17.54% compared to the Sensex's 2.47%. This strong performance is further supported by rising investor participation, as evidenced by a notable increase in delivery volume. The overall market for the Tyres & Allied sector has also shown positive movement, gaining 3.87%. The combination of CEAT's robust financial metrics, favorable market conditions, and strong institutional backing has contributed to its rising stock price.