Why is Redington falling/rising?

As of 30-Jun, Redington Ltd's stock price is rising, currently at Rs 326.20, reflecting an increase of Rs 5.25 or 1.64%. The stock has recently outperformed its sector, gaining 9.74% over the last two days and hitting a new 52-week high of Rs 334.9 today. Additionally, Redington has shown impressive returns over various periods, including a 63.22% increase year-to-date and a 52.25% rise over the past year. The company's strong fundamentals, highlighted by a 15.86% CAGR growth in operating profits and a low Debt to EBITDA ratio of 0.41 times, contribute positively to investor sentiment. Furthermore, high institutional holdings at 78.49% indicate confidence from sophisticated investors, which has likely bolstered the stock's upward movement.
In the broader market context, Redington's short-term performance significantly outpaces the benchmark, with a 12.62% increase over the past week compared to the Sensex's 2.09% rise. This strong relative performance suggests that investor enthusiasm for Redington is not only driven by its individual strengths but also reflects a favorable market environment for the sector. Despite some concerns regarding flat quarterly results and a high valuation compared to peers, the overall positive sentiment and strong trading volume indicate robust investor interest, supporting the stock's upward trajectory.