Why is Lumax Industries falling/rising?

As of 16-Jul, Lumax Industries Ltd is experiencing a price increase, currently at Rs 3,744.00, reflecting a rise of Rs 167.5 or 4.68%. The stock has shown strong performance recently, having gained 6.6% over the last three days and outperforming its sector by 4.8% today. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the stock has generated impressive returns of 58.64% year-to-date and 33.91% over the past year, while institutional investors have increased their stake, suggesting growing confidence in the company's fundamentals.
In the broader market context, Lumax Industries has outperformed the Sensex, which has declined by 1.08% over the past week while Lumax has risen by 4.01%. This trend of outperformance is consistent, as the stock has also surpassed the benchmark over longer periods, including a 15.20% increase in the last month compared to the Sensex's 1.02% rise. The company's strong quarterly results, with record net sales and profit figures, alongside a favorable PEG ratio and increasing institutional participation, further bolster its positive outlook in a challenging market environment.