Why is Kalyan Jewellers falling/rising?

As of 26-Jun, Kalyan Jewellers India Ltd's stock price is currently at Rs 551.85, reflecting an increase of Rs 11.65 or 2.16%. The stock has been gaining momentum, having outperformed its sector by 1.14% today and achieving a consecutive gain over the last three days with a total return of 7.09%. The stock reached an intraday high of Rs 557.5, indicating strong performance. Additionally, the company has shown healthy long-term growth with net sales increasing at an annual rate of 30.76% and operating profit at 31.95%. Positive results over the last eight consecutive quarters, along with high institutional holdings of 28.85%, suggest strong investor confidence, contributing to the recent upward movement in the stock price.
In the broader market context, Kalyan Jewellers has outperformed the benchmark Sensex in the short term, with a 1-week return of +8.00% compared to the Sensex's +2.94%. However, the stock has experienced a decline of 2.98% over the past month, while the Sensex has gained 1.92%. Despite this recent dip, the stock's long-term performance remains robust, with a 20.86% return over the past year and an impressive 844.95% increase over the last three years, significantly outperforming the broader market. This combination of short-term gains and strong long-term fundamentals positions Kalyan Jewellers favorably in the market, reflecting investor optimism.