Why is Religare Enterp. falling/rising?

As of 21-Jul, Religare Enterprises Ltd is experiencing a price increase, currently at Rs 272.50, reflecting a rise of Rs 4.2 or 1.57%. The stock has shown strong performance today, outperforming its sector by 0.71% and reaching an intraday high of Rs 276, which is a 2.87% increase. Over the past week, the stock has gained 2.97%, and it has delivered a remarkable 20.84% return over the past month, significantly outperforming the Sensex, which has seen a slight decline of 0.25% in the same period. The company has demonstrated strong long-term fundamental strength, with a compound annual growth rate (CAGR) of 94.85% in operating profits, and promoter confidence has risen with a 25.67% increase in their stake, indicating optimism about the company's future.
In the broader market context, while Religare Enterprises Ltd has shown impressive short-term returns, the benchmark Sensex has remained relatively flat, with a slight decrease of 0.06% over the past week. This contrast highlights the stock's strong performance against the broader market trends. Despite a notable drop in investor participation, with delivery volume falling by 79.58% against the 5-day average, the stock's liquidity remains adequate for trading. Overall, the combination of strong financial results, rising promoter confidence, and consistent returns over the past three years contributes to the stock's upward movement, even as broader market conditions remain challenging.