Why is Redington falling/rising?

As of 04-Aug, Redington Ltd is experiencing a price increase, currently at Rs 252.70, reflecting a change of 3.25 or 1.3% upward. The stock has shown a trend reversal, gaining after three consecutive days of decline, and it reached an intraday high of Rs 255.8. However, it has also seen a significant drop in its performance over the past week and month, with returns of -11.69% and -19.25%, respectively. Despite these short-term challenges, the stock has demonstrated strong long-term fundamentals, including a 17.15% CAGR growth in operating profits and a high Return on Capital Employed (ROCE) of 34.87%. The stock is trading at a premium compared to its peers, and high institutional holdings at 79.29% suggest confidence from larger investors, although profits have recently fallen by -6.7%.
In the broader market context, while Redington has outperformed its sector today by 0.33%, it has underperformed the benchmark Sensex over the past week and month, which saw slight gains of +0.16% and losses of -2.89%, respectively. The stock's ability to generate a 24.79% return over the past year, despite a negative market trend, highlights its resilience. However, the recent decline in investor participation and the falling delivery volume indicate potential concerns among retail investors. Overall, while the stock is currently rising, its recent performance metrics and market conditions suggest a complex interplay of factors influencing its price movements.