Why is Lumax Industries falling/rising?

As of 04-Jul, Lumax Industries Ltd is experiencing a price increase, currently at Rs 3,649.00, which reflects a rise of 16.0 points or 0.44%. The stock has been gaining momentum, having risen 3.11% over the last two days and is currently trading close to its 52-week high, just 2.6% away from Rs 3,744. Despite touching an intraday low of Rs 3,545, the stock remains above its moving averages across various time frames. Additionally, the company has shown strong performance with a 24.61% return over the past year, and its profits have increased by 26%, contributing to a favorable PEG ratio of 0.9. Institutional investors have also shown increased interest, raising their stake by 0.74%, which adds to the stock's positive outlook.
In the broader market context, Lumax Industries has significantly outperformed the benchmark Sensex, with a 1-week return of +4.26% compared to the Sensex's -0.74%. This trend of outperformance is consistent over longer periods, with the stock achieving a 54.62% return year-to-date against the Sensex's 6.77%. The stock's strong fundamentals, including record net sales and profitability, combined with increasing institutional participation, suggest a robust position in the market, further supporting its rising price trend.