Why is PC Jeweller falling/rising?

As of 10-Jul, PC Jeweller Ltd's stock price is currently at Rs 18.74, reflecting an increase of Rs 0.31 or 1.68%. The stock has shown strong performance recently, gaining 4.28% over the last two days and is currently trading close to its 52-week high, just 4.86% away from Rs 19.65. Over the past week, the stock has surged by 33.57%, and it has outperformed the sector by 1.94% today. The company has reported positive financial results, including a 9.32% growth in net sales and a significant increase in profit after tax (PAT) of 175.95% over the last six months. Additionally, the stock is trading at a discount compared to its peers, which supports its upward movement.
In the broader market context, while the Sensex has seen a slight decline of 0.06% over the past week, PC Jeweller's remarkable short-term performance highlights its strength relative to the benchmark. The stock has consistently outperformed the BSE500 over various time frames, including a 182.61% return over the past year, which is significantly higher than the Sensex's 4.09% return in the same period. This strong performance, coupled with positive financial indicators and a favorable valuation, suggests that investor confidence remains high despite a recent drop in delivery volume, indicating a potential liquidity concern that could affect future trading activity.