Why is Khaitan (India) falling/rising?

As of 23-Jul, Khaitan (India) Ltd's stock price is rising, currently at 126.95, reflecting an increase of 2.95 or 2.38%. The stock has shown strong performance today, opening with a gain of 2.42% and reaching an intraday high of Rs 130, which is a 4.84% increase. Over the past week, the stock has risen by 4.06%, and it has outperformed the benchmark Sensex, which only increased by 0.11%. Additionally, Khaitan (India) has demonstrated impressive long-term returns, with a 68.93% increase over the past year and a staggering 531.59% over the last five years. The company has consistently reported positive results for six consecutive quarters, with a higher PAT of Rs 5.77 Cr and record net sales of Rs 29.66 Cr, contributing to investor confidence and the stock's upward movement.
In the broader market context, Khaitan (India) has outperformed the Sensex in both the short-term and long-term, indicating strong relative strength. While the stock has seen a decline in investor participation, with a 25.37% drop in delivery volume compared to the five-day average, its liquidity remains sufficient for trading. The stock's performance today, along with its positive financial results and consistent outperformance against the BSE500 over various periods, suggests that investor sentiment remains favorable despite the recent decline in trading volume.