Why is Piramal Enterp. falling/rising?

As of 14-Jul, Piramal Enterprises Ltd is experiencing a price increase, currently at Rs. 1,293.25, reflecting a rise of Rs. 78.2 or 6.44%. The stock has recently hit a new 52-week high of Rs. 1298 and has outperformed its sector by 6.36%. Over the past two days, the stock has gained 11.37%, and it is trading above all key moving averages, indicating strong momentum. Additionally, the company reported a significant growth in profit after tax, which increased by 136% compared to the previous four-quarter average, and it holds a substantial cash reserve of Rs. 6,275.89 crore. The high institutional ownership at 30.46% suggests confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Piramal Enterprises has outperformed the Sensex, with a one-week return of +11.52% compared to the benchmark's -1.42%. This trend of strong performance is consistent over the past month and year, where the stock has generated a return of 14.14% and 37.99%, respectively, significantly higher than the Sensex's returns. The rising investor participation, evidenced by a 343.73% increase in delivery volume, also indicates growing interest and confidence in the stock, contributing to its positive price movement amidst a generally challenging market environment.