Why is Religare Enterp. falling/rising?

As of 16-Jul, Religare Enterprises Ltd is currently priced at 268.85, reflecting an increase of 0.65 or 0.24%. The stock has shown a positive trend, gaining 1.59% over the last two days and outperforming its sector by 0.47%. It has also demonstrated strong performance over the past week and month, with returns of +14.33% and +14.89%, respectively. Despite a significant drop in delivery volume by 58.42% compared to the 5-day average, the stock is trading above all key moving averages, indicating a bullish sentiment. Additionally, the company has reported impressive long-term growth in operating profits, with a CAGR of 94.85%, and a notable increase in promoter confidence, as they have raised their stake by 25.67%.
In the broader market context, while Religare Enterprises has outperformed the benchmark Sensex over the past week and month, it has underperformed year-to-date with a decline of 2.18% compared to the Sensex's gain of 5.75%. However, the stock has consistently generated returns over the last three years, outperforming the BSE500 in each of the last three annual periods. This consistent performance, coupled with strong fundamentals and rising promoter confidence, suggests that the stock's recent upward movement is supported by solid underlying business strength, despite the recent decline in investor participation.