Why is Redington falling/rising?

As of 13-Aug, Redington Ltd's stock price is rising, currently at Rs 240.00, reflecting an increase of Rs 4.45 or 1.89%. Today's performance indicates that the stock has outperformed its sector by 0.9%, reaching an intraday high of Rs 241.1, which is a 2.36% increase. Despite a recent decline in delivery volume, which fell by 2.2% against the 5-day average, the stock remains liquid enough for trading. Over the past year, Redington has generated a return of 22.67%, significantly outperforming the broader market, which has seen negative returns. The company demonstrates strong long-term fundamentals, with a 17.15% CAGR growth in operating profits and a low debt-to-EBITDA ratio of 0.41, indicating robust financial health. However, it is worth noting that profits have decreased by 6.7% over the past year, which could temper investor enthusiasm.
In the broader market context, Redington's short-term return of +0.36% over the past week contrasts with the Sensex, which has remained flat at -0.01%. This performance highlights the stock's resilience in a challenging market environment, where the BSE500 has generated negative returns of -0.64% over the last year. The high institutional holdings at 79.29% suggest confidence from sophisticated investors, further supporting the stock's upward movement. Despite some recent flat results in profitability, the overall strong fundamentals and market-beating performance contribute positively to the stock's rising price.