Why is Kalyan Jewellers falling/rising?

As of 24-Sep, Kalyan Jewellers India Ltd is experiencing a decline in its stock price, currently at Rs 478.30, which represents a decrease of Rs 16.75 or 3.38%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total return of -8.53% over the past week. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a rise in investor participation, with delivery volume increasing by 8.04% against the 5-day average, the overall performance remains weak. The company has reported strong long-term growth metrics, including a net sales growth rate of 29.84% and a net profit increase of 40.76%, but these positive factors have not been sufficient to counteract the recent price decline.
In the broader market context, Kalyan Jewellers has underperformed compared to the benchmark Sensex, which has only declined by 1.18% over the past week. The stock's year-to-date performance shows a significant drop of 37.62%, contrasting sharply with the Sensex's gain of 4.58%. This disparity highlights the challenges faced by Kalyan Jewellers in the current market environment, despite its strong fundamentals and high institutional holdings, which increased by 1.31% over the previous quarter. The company's substantial market capitalization and consistent positive results over the last nine quarters suggest potential for recovery, but the immediate outlook remains negative as reflected in the stock's recent performance.