Why is Centum Electron falling/rising?

As of 24-Sep, Centum Electronics Ltd is experiencing a price increase, currently at Rs 2,881.00, reflecting a rise of Rs 74.05 or 2.64%. Today's performance indicates that the stock has outperformed its sector by 2.69%, marking a trend reversal after two consecutive days of decline. The stock reached an intraday high of Rs 2,905, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, Centum Electronics has shown a return of 6.51%, significantly outperforming the Sensex, which declined by 1.18%. Additionally, the company has reported strong financial results, with substantial growth in profit before tax and profit after tax, alongside a healthy cash position, which has likely contributed to positive investor sentiment.
In the broader market context, while the Sensex has shown a modest gain of 0.50% over the past month, Centum Electronics has outperformed with a return of 4.54%. The stock's year-to-date performance stands at an impressive 35.85%, compared to the Sensex's 4.58%. Furthermore, institutional investors have increased their stake in the company, indicating growing confidence in its fundamentals. This increased participation from institutional investors, who possess greater analytical resources, may have bolstered the stock's recent upward movement, despite a notable decline in retail investor participation. Overall, the combination of strong financial results, positive institutional interest, and solid short-term performance relative to the benchmark has contributed to the stock's rise.