Why is JK Tyre & Indust falling/rising?

As of 12-Nov, JK Tyre & Industries Ltd is experiencing a price increase, currently at 467.10, which reflects a rise of 14.2 or 3.14%. The stock has shown strong performance, with a 1-week return of 2.98% and a 1-month return of 22.21%, significantly outperforming the Sensex, which has only increased by 1.21% and 2.38% respectively. Today's price summary indicates that the stock is just 0.59% away from its 52-week high and has gained after two consecutive days of decline. It is trading above all key moving averages, indicating a positive trend. However, there is a noted decrease in investor participation, with delivery volume falling by 5.47% compared to the 5-day average. The stock's fundamentals remain strong, with a healthy long-term growth rate in operating profit and impressive quarterly results, including a 96.5% increase in PAT.
In the broader market context, JK Tyre & Industries Ltd has outperformed the benchmark indices over various time frames, including a 25.89% return over the past year compared to the Sensex's 7.36%. This strong performance is supported by high institutional holdings, which have increased, indicating confidence from larger investors. The company's attractive valuation relative to peers and its ranking among the top companies in its sector further bolster its appeal. Despite a recent decline in profits, the stock's long-term growth potential and market-beating performance contribute to its rising price, reflecting investor optimism in its future prospects.