Why is PC Jeweller falling/rising?

As of 17-Sep, PC Jeweller Ltd's stock price is currently at Rs 14.66, reflecting an increase of Rs 1.26 or 9.4%. The stock has shown a strong performance today, outperforming its sector by 9.92% and has been on a gaining streak for the last three days, accumulating a total return of 11.65% during this period. The stock reached an intraday high of Rs 15.38, indicating significant upward momentum. Additionally, the company has reported positive financial results over the last five consecutive quarters, with net sales growing by 321.36% and a notable increase in profits, which has attracted institutional investors who have increased their stake by 0.95% in the last quarter.
In the broader market context, PC Jeweller's short-term performance has significantly outpaced the benchmark Sensex, which only rose by 1.56% over the same one-week period, while the stock itself gained 11.40%. This indicates a strong relative strength compared to the market. Despite a year-to-date decline of 7.22%, the stock's impressive returns over the past three years at 99.46% and five years at 858.17% suggest a robust long-term growth trajectory. The stock is currently trading at a discount compared to its peers, which, along with the attractive valuation metrics, supports its recent price increase.