Why is Delhivery falling/rising?

As of 29-Aug, Delhivery Ltd's stock price is currently at Rs 469.30, reflecting a slight increase of 0.35 or 0.07%. The stock is close to its 52-week high, being only 2.39% away from Rs 480.5. It has outperformed its sector by 0.98% today, and the delivery volume has risen by 6.62% compared to the 5-day average, indicating rising investor participation. Over the past month, the stock has shown a strong performance with an increase of 11.14%, while it has generated a year-to-date return of 35.58%, significantly outperforming the Sensex, which has only increased by 2.14%. The company's positive financial results, including a 77.25% growth in net profit and consistent positive results over the last five quarters, have contributed to this upward movement, alongside high institutional holdings at 82.54%, which suggests confidence from knowledgeable investors.
Broader market context shows that while the stock has performed well, the overall market, represented by the BSE500, has faced negative returns of -5.40% over the past year. In the short term, Delhivery's stock has outperformed the benchmark, with a 1-week return of -0.78% compared to the Sensex's -1.84%. This indicates that despite some recent fluctuations, Delhivery has managed to maintain a relatively strong position in a challenging market environment, supported by its substantial market capitalization and significant share of the industry.