Why is Delhivery falling/rising?

As of 07-Aug, Delhivery Ltd's stock price is rising, currently at 465.90, reflecting an increase of 10.8 or 2.37%. The stock has recently hit a new 52-week high of Rs 468 and has outperformed its sector by 2.15%. It has shown a positive trend reversal after two days of consecutive declines. Over the past week, Delhivery has gained 9.55%, and in the last month, it has increased by 17.74%, while the stock has also outperformed the broader market with a 13.50% return over the past year compared to the Sensex's 1.45%. The company has reported strong financial results, including a 77.25% growth in net profit and positive results for five consecutive quarters, which has likely contributed to investor confidence and the stock's upward movement.
In the broader market context, while the BSE500 index has generated negative returns of -1.34% over the past year, Delhivery's strong performance stands out, indicating its resilience against market trends. The stock's liquidity remains adequate, with a market cap of Rs 34,119 crore, making it the second-largest company in its sector. High institutional holdings at 82.54% suggest that knowledgeable investors are backing the stock, further supporting its price increase. However, it is worth noting that there has been a decline in investor participation, with delivery volume falling by 27.08% against the five-day average, which could be a point of concern for future price movements.