Why is ICICI Lombard falling/rising?

As of 15-Oct, ICICI Lombard General Insurance Company Ltd is experiencing a significant rise in its stock price, currently at 2,020.60, reflecting an increase of 161.95 or 8.71%. The stock has outperformed its sector by 6.55% today and has shown consecutive gains over the last two days, accumulating a total return of 10.17% in this period. Additionally, the stock has reached an intraday high of Rs 2035, and it is trading above all key moving averages, indicating strong upward momentum. The company has reported positive financial results, including the highest net sales and profit before depreciation, interest, and taxes for the quarter, which, combined with a solid average return on equity of 16.56% and high institutional holdings, supports investor confidence and contributes to the stock's recent performance.
In the broader market context, ICICI Lombard's short-term return of 7.59% over the past week significantly outpaces the Sensex, which has only gained 1.02% in the same timeframe. This indicates that the stock is not only performing well on its own but is also gaining traction relative to the overall market. The finance and non-banking financial companies (NBFC) sector has also seen a gain of 2.16%, further supporting the positive sentiment around ICICI Lombard. The increased investor participation, as evidenced by a rise in delivery volume, suggests a growing interest in the stock, which is likely contributing to its upward price movement.