Why is JK Tyre & Indust falling/rising?

As of 03-Nov, JK Tyre & Industries Ltd is experiencing a price increase, with the current price at 442.45, reflecting a rise of 9.85 or 2.28%. The stock has reached a new 52-week high of Rs. 446.95 today and has outperformed its sector by 1.51%. Over the past week, the stock has shown a robust return of +7.34%, and for the month, it has increased by +18.56%. Despite a recent decline in delivery volume by 27.35% against the 5-day average, the stock remains liquid enough for trading. The company has demonstrated strong financial performance, with net sales reaching their highest at Rs 4,011.31 crore and an operating profit to interest ratio of 4.84 times. Additionally, the stock's long-term growth is supported by a healthy operating profit growth rate of 22.42%, although profits have fallen by 28.6% over the past year.
In the broader market context, JK Tyre's recent performance stands in stark contrast to the benchmark Sensex, which has declined by 0.94% over the past week. The stock's year-to-date return of +13.96% also surpasses the Sensex's +7.47%, indicating strong relative performance. Furthermore, the stock has consistently outperformed the BSE500 over various time frames, including the last three years, one year, and three months. High institutional holdings at 23.29% suggest confidence from larger investors, who have increased their stake, indicating a positive outlook on the company's fundamentals. Overall, the combination of strong financial results, positive institutional sentiment, and significant outperformance relative to the market contributes to the stock's rising price.