Why is Kalyan Jewellers falling/rising?

As of 01-Aug, Kalyan Jewellers India Ltd is experiencing a decline in its stock price, currently at Rs 582.80, which reflects a decrease of Rs 11.55 or 1.94%. The stock has underperformed its sector by 0.89% today and has been on a consecutive downward trend for the last three days, resulting in a total drop of 3.61% during this period. Additionally, the stock's performance over the past week shows a decline of 1.85%, while it has gained 2.24% over the past month. Despite these short-term challenges, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 30.76% and operating profit at 31.95%. The company has also reported positive results for the last eight consecutive quarters, with significant growth in net sales and profit after tax.
In the broader market context, Kalyan Jewellers' recent performance contrasts with the benchmark Sensex, which has declined by 1.06% over the past week. The stock's liquidity remains adequate, with a delivery volume that, despite a recent drop, still supports trading activity. High institutional holdings at 30.16% indicate confidence from larger investors, who have increased their stake, suggesting a positive outlook on the company's fundamentals. However, the stock's year-to-date performance shows a significant decline of 23.99%, which may be influencing investor sentiment negatively in the short term. Overall, while the company has strong fundamentals and consistent returns over the long term, recent price movements reflect short-term pressures and market dynamics.