Why is Kalyan Jewellers falling/rising?

As of 29-Jul, Kalyan Jewellers India Ltd is experiencing a rise in its stock price, currently at 604.65, reflecting an increase of 7.1 or 1.19%. The stock has shown a positive performance today, outperforming its sector by 1.51% and has been on a consecutive gain for the last two days, with a total return of 1.83% during this period. Additionally, Kalyan Jewellers has demonstrated strong returns over the past week and month, with increases of 1.91% and 11.03%, respectively. The company has also reported healthy long-term growth, with net sales growing at an annual rate of 30.76% and operating profit at 31.95%. Furthermore, the stock has consistently delivered positive results for the last eight consecutive quarters, which has likely bolstered investor confidence.
In the broader market context, Kalyan Jewellers' recent performance contrasts sharply with the benchmark Sensex, which has declined by 1.03% over the past week and 3.24% over the past month. This indicates that Kalyan Jewellers is not only performing well in isolation but is also gaining traction against a backdrop of broader market challenges. The stock's high institutional holdings at 30.16% suggest a strong backing from knowledgeable investors, further supporting its upward movement. Despite a decline in delivery volume, the stock remains liquid enough for trading, which may also contribute to its stability and growth in price.