Why is Kalyan Jewellers falling/rising?

As of 09-Jul, Kalyan Jewellers India Ltd's stock price is currently at Rs 578.85, reflecting an increase of Rs 4.7 or 0.82%. Today's price summary indicates that the stock has outperformed its sector by 0.97% and has experienced a trend reversal, gaining after two consecutive days of decline. The stock reached an intraday high of Rs 592.25, representing a 3.15% increase. Despite this positive movement, the stock has shown a negative return of 1.12% over the past week, while it has gained 4.99% over the last month. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 30.76% and consistent positive results over the last eight quarters, which supports its recent price movement.
Broader Market Context: In comparison to the benchmark, Kalyan Jewellers' short-term performance has lagged, with a 1-week return of -1.12% against a slight gain of +0.15% for the Sensex. However, the stock has significantly outperformed the benchmark over the past year, with a return of 16.47% compared to the Sensex's 3.96%. The high institutional holdings at 28.85% suggest that informed investors are confident in the company's fundamentals, which may contribute to the stock's resilience despite recent volatility. Overall, while the stock has faced some short-term challenges, its strong fundamentals and positive growth indicators provide a solid foundation for its current price increase.