Why is Max Estates falling/rising?

As of 17-Jul, Max Estates Ltd's stock price is rising, currently at 525.00, reflecting an increase of 10.4 or 2.02%. The stock has outperformed its sector today by 1.06%, reaching an intraday high of Rs 529.05. Over the past week, the stock has gained 3.35%, while it has also shown a positive trend over the past month with a 3.59% increase. The company has reported strong financial performance, with net sales growing by 47.32% and a significant increase in profit after tax of 215.0% compared to the previous four-quarter average. Additionally, the stock is trading above its moving averages across various time frames, and there has been a notable increase in investor participation, with delivery volume rising by 28.29%.
Broader Market Context: In contrast to the stock's recent performance, the benchmark Sensex has declined by 1.12% over the past week. While the stock has shown a year-to-date decline of 7.56%, it has managed to outperform the benchmark in the short term, indicating a divergence in performance. The high institutional holdings at 33.73% suggest that knowledgeable investors are confident in the company's fundamentals, which may contribute to the stock's upward movement despite broader market challenges.