Why is Kalyan Jewellers falling/rising?

As of 14-Jul, Kalyan Jewellers India Ltd's stock price is currently at Rs 585.65, reflecting an increase of Rs 3.4 or 0.58%. Despite this rise, the stock has shown some volatility today, opening with a loss of 2.1% and reaching an intraday low of Rs 570. The stock has underperformed its sector by 0.47% today, and the delivery volume has decreased by 16.49% compared to the 5-day average, indicating a decline in investor participation. Over the past week, the stock has gained 0.29%, while it has performed significantly better over the past month with a 12.86% increase, contrasting with a year-to-date decline of 23.61%. The company has demonstrated strong long-term growth, with net sales increasing at an annual rate of 30.76% and positive results for the last eight consecutive quarters, which may support its current price movement.
In the broader market context, Kalyan Jewellers' recent performance has been relatively strong compared to the benchmark, as it has outperformed the Sensex by 12.86% over the past month, while the Sensex itself has only increased by 1.40%. However, the stock's year-to-date performance remains concerning, with a decline of 23.61% compared to the Sensex's gain of 5.27%. The high institutional holdings at 28.85% suggest that informed investors are confident in the company's fundamentals, which could provide some stability amidst the fluctuations. Overall, while the stock has shown resilience in the short term, the recent drop in investor participation and the mixed performance against the benchmark may contribute to a cautious outlook.