Why is Concord Enviro falling/rising?

As of 18-Jul, Concord Enviro Systems Ltd is experiencing a price increase, currently at Rs 617.95, which reflects a rise of Rs 19.45 or 3.25%. The stock has shown strong performance today, outperforming its sector by 4.02% and reaching an intraday high of Rs 645, marking a 7.77% increase. Over the past week, the stock has gained 4.50%, and in the last month, it has risen by 10.94%. Despite a year-to-date decline of 16.95%, the company has reported positive quarterly results, with net sales at their highest and a favorable operating profit margin. However, it is important to note that foreign institutional investors (FIIs) have reduced their holdings to 1.59%, which may impact investor sentiment.
Broader market context indicates that while Concord Enviro has performed well in the short term, the benchmark Sensex has declined by 0.90% over the past week and only increased by 0.38% in the last month. This contrast highlights the stock's relative strength against the broader market. The stock's liquidity is also favorable, with a significant increase in delivery volume, suggesting rising investor participation. Overall, the combination of strong quarterly results, positive price movements, and increased trading activity contributes to the stock's upward trajectory, despite the challenges posed by reduced institutional holdings and a longer-term decline in performance.