Why is Kaynes Tech falling/rising?

As of 18-Aug, Kaynes Technology India Ltd is experiencing a price increase, currently at Rs 6,275.00, reflecting a rise of 161.9 points or 2.65%. The stock has shown strong performance recently, gaining 8.05% over the last three days and outperforming its sector by 1.3% today. It has also been trading above its moving averages across various time frames, indicating positive momentum. Despite a year-to-date decline of 15.36%, the stock has delivered a robust 23.58% return over the past year, significantly outperforming the broader market, which has only generated a 1.04% return during the same period. The company's low debt-to-equity ratio and impressive growth in net sales and operating profit further support its positive outlook.
Broader Market Context: In the short term, Kaynes Technology has outperformed the benchmark Sensex, which has only gained 0.83% over the past week, while Kaynes has risen by 7.58%. This outperformance highlights the stock's strength relative to the broader market, especially given the negative returns of the BSE500 over the last year. The company's significant market capitalization and its dominant position in the sector, constituting nearly 32% of the entire industry, also contribute to its resilience and attractiveness to investors, despite a recent decline in delivery volume.