Why is Kalyan Jewellers falling/rising?

As of 01-Jul, Kalyan Jewellers India Ltd's stock price is rising, currently at Rs 570.05, reflecting an increase of Rs 14.3 or 2.57%. The stock has shown positive momentum, gaining 4.67% over the last two days and outperforming its sector by 2.17% today. It reached an intraday high of Rs 574.6, indicating strong buying interest. Despite a year-to-date decline of 25.65%, the stock has delivered a notable 14.51% return over the past year and an impressive 831.45% over the last three years. The company's positive financial performance, including a 38.07% growth in net sales and a 27.72% increase in profit after tax over the last six months, supports its recent upward movement.
In the broader market context, Kalyan Jewellers has outperformed the Sensex in the short term, with a 9.24% return over the past week compared to the benchmark's 2.00%. This indicates that the stock is gaining traction relative to the overall market. However, there is a noted decline in investor participation, with delivery volume falling by 11.56% against the five-day average, which could signal caution among some investors. Nonetheless, the stock's strong institutional holdings at 28.85% and consistent returns over the last three years suggest a solid foundation for continued growth, despite the recent volatility in its price.