Why is Lumax Industries falling/rising?

As of 07-Jul, Lumax Industries Ltd is experiencing a price increase, currently at Rs 3,688.95, reflecting a rise of 39.95 (1.09%). The stock has recently hit a new 52-week and all-time high of Rs 3,902.4, demonstrating a significant intraday gain of 6.94%. Over the past three days, the stock has gained 4.24%, outperforming its sector by 1.55%. Additionally, the stock has shown strong performance over various time frames, with a year-to-date return of 56.31% compared to the Sensex's 6.79%. Positive financial results, including a 24.33% growth in net sales and a 26% increase in profits over the past year, have contributed to its favorable valuation, while increasing institutional investor participation indicates growing confidence in the company.
In the broader market context, Lumax Industries has outperformed the benchmark Sensex, which has declined by 0.20% over the past week while Lumax has risen by 0.29%. This trend of outperformance is consistent, as the stock has generated returns exceeding those of the BSE500 over the last three years, one year, and three months. Despite a recent decline in delivery volume, the stock remains liquid enough for trading, and its performance reflects strong fundamentals and market sentiment, further solidifying its position in the market.