Why is Lumax Industries falling/rising?

As of 03-Jul, Lumax Industries Ltd is experiencing a price increase, currently at Rs 3,633.00, which reflects a rise of Rs 94.0 or 2.66%. The stock has shown strong performance, with a 1-week return of +9.99% and a 1-month return of +24.18%, significantly outperforming the Sensex, which has seen a decline of -0.62% over the same week. Today's price summary indicates that the stock is close to its 52-week high, only 3.06% away, and has gained after two consecutive days of decline. Additionally, Lumax Industries is trading above all its moving averages, suggesting a positive trend. The recent increase in institutional investor participation, with a 0.74% rise in stake, further supports the stock's upward movement, as these investors typically have a better understanding of company fundamentals.
In the broader market context, while the Sensex has only increased by +3.10% over the past month, Lumax Industries has outperformed this benchmark significantly, indicating strong investor confidence in the company. The stock's year-to-date return of +53.94% compared to the Sensex's +6.53% further highlights its robust performance. Despite a recent decline in delivery volume, the overall liquidity remains adequate, and the stock's fair valuation relative to peers, along with positive financial results, contributes to its rising price.