Why is Redington falling/rising?

As of 06-Nov, Redington Ltd's stock price is rising, currently at 289.65, reflecting an increase of 39.35 or 15.72%. Today's price summary indicates that the stock has outperformed its sector by 8.82% and has experienced a trend reversal, gaining after four consecutive days of decline. It opened with a gain of 4.69% and reached an intraday high of Rs 293, showcasing strong momentum. Over the past week, the stock has risen by 11.94%, significantly outperforming the Sensex, which fell by 1.30%. Additionally, the stock's long-term fundamentals are strong, evidenced by a 17.15% CAGR growth in operating profits and a low Debt to EBITDA ratio of 0.41 times, contributing to its recent positive movement.
In the broader market context, Redington's performance has been notably strong compared to the benchmark, with a year-to-date return of 44.93% against the Sensex's 6.62%. The stock has consistently outperformed the BSE500 over various time frames, indicating robust market confidence. However, there are some risks, such as flat results in September and a low Debtors Turnover Ratio, which could temper future performance. Despite these concerns, the high institutional holdings at 78.83% suggest that informed investors continue to support the stock, further bolstering its upward trajectory.