Why is MRF falling/rising?

As of 30-Jul, MRF Ltd. is experiencing a price increase, currently at Rs 149,973.50, reflecting a rise of Rs 613.5 or 0.41%. The stock has been gaining for the last two days, with a total return of 1.37% during this period. It is trading close to its 52-week high, just 2.02% away from Rs 153,000. Over the past month, MRF has outperformed the benchmark Sensex, with a return of 5.67% compared to the Sensex's decline of 2.54%. The company benefits from a low debt-to-equity ratio of 0.02 times and a healthy annual net sales growth rate of 11.63%. Additionally, institutional holdings have increased by 0.57% over the previous quarter, indicating strong confidence from significant investors.
In the broader market context, MRF's short-term performance stands in stark contrast to the Sensex, which has seen a decline of 1.50% over the past week. MRF's market-beating performance is evident in its year-to-date return of 15.15%, significantly higher than the Sensex's 4.28%. Despite a recent drop in investor participation, with delivery volume falling by 46.79% against the five-day average, the stock remains liquid enough for trading, suggesting ongoing interest. Overall, MRF's strong fundamentals, coupled with its ability to outperform the market, contribute to its rising stock price.