Why is Kirloskar Oil falling/rising?

As of 19-Nov, Kirloskar Oil Engines Ltd is experiencing a price increase, with its current price at Rs 1,176.65, reflecting a rise of Rs 34.95 or 3.06%. The stock has shown strong performance recently, gaining 24.49% over the last six days and outperforming its sector by 2.62% today. It is currently trading close to its 52-week high, just 1.67% away from Rs 1,196.25. Additionally, the stock has demonstrated impressive returns over various periods, including a 32.10% increase over the past month and a remarkable 229.55% over the last three years. Positive factors contributing to this upward movement include healthy long-term growth, as evidenced by a 42.41% annual increase in operating profit, and strong financial results from September, which featured record net sales and cash equivalents. Furthermore, high institutional holdings at 36.33% indicate confidence from significant investors, which can positively influence retail investor sentiment.
In the broader market context, Kirloskar Oil's short-term performance significantly outpaces the benchmark Sensex, which has only risen by 0.85% over the past week. This stark contrast highlights the stock's strong momentum relative to the overall market. While the stock has seen a decrease in delivery volume, indicating a potential decline in investor participation, its liquidity remains adequate for trading. The stock's attractive valuation, trading at a discount compared to peers, alongside a solid return on capital employed, further supports its positive outlook despite the slight dip in profits over the past year. Overall, the combination of strong financial performance, institutional backing, and favorable market conditions has contributed to the stock's rising price.