Why is Kalyan Jewellers falling/rising?

As of 02-Jul, Kalyan Jewellers India Ltd's stock price is rising, currently at Rs 585.40, reflecting an increase of Rs 15.35 or 2.69%. The stock has demonstrated strong performance today, outperforming its sector by 2.39% and achieving a consecutive gain over the last three days, with a total return of 7.49% during this period. The stock reached an intraday high of Rs 593.7, indicating positive momentum. Despite this, there has been a decline in investor participation, with delivery volume falling by 21.37% against the five-day average. However, the company has shown healthy long-term growth, with net sales and operating profit increasing significantly, and has reported positive results for the last eight consecutive quarters, contributing to investor confidence.
In the broader market context, Kalyan Jewellers has outperformed the benchmark Sensex in the short term, with a one-week return of 8.37% compared to the Sensex's 0.79%. While the stock has faced challenges year-to-date with a decline of 23.65%, its performance over the last year has been strong, generating an 18.08% return. The company benefits from high institutional holdings, which suggests confidence from more knowledgeable investors. Additionally, its significant market capitalization and consistent returns over the past three years further support its positive outlook, despite some recent fluctuations in trading volume.