Why is Lumax Industries falling/rising?

As of 17-Jul, Lumax Industries Ltd is experiencing a price increase, currently at Rs 3,925.60, reflecting a rise of Rs 181.6 or 4.85%. The stock has shown strong performance today, hitting a new 52-week and all-time high of Rs 4,150, with an intraday gain of 10.84%. Over the past week, the stock has gained 11.30%, and it has outperformed the sector by 4.66%. Notably, the stock has been on a consecutive gain streak for four days, with a total return of 11.77% during this period. The positive financial results reported for March 25, including record net sales and profit before tax, along with a favorable PEG ratio of 1, suggest a strong fundamental position. Additionally, increasing participation from institutional investors, who have raised their stake by 0.74%, indicates growing confidence in the company's prospects.
In the broader market context, while Lumax Industries has outperformed the Sensex, which has declined by 1.12% over the past week, the stock's impressive year-to-date return of 66.34% further highlights its strong performance relative to the benchmark's 5.27% increase. This significant outperformance over various time frames, including a 40.40% return over the past year, positions Lumax Industries favorably against the broader market trends. The stock's liquidity and trading above key moving averages also contribute to its attractiveness among investors, reinforcing the positive sentiment surrounding its recent price movements.