Why is Religare Enterp. falling/rising?

As of 23-Jul, Religare Enterprises Ltd's stock price is rising, currently at 290.80, reflecting an increase of 4.6 or 1.61%. The stock has shown strong performance today, outperforming its sector by 1.07% and has gained 8.39% over the last three days. It opened with a significant gap up of 9.77% and reached an intraday high of Rs 314.15. The stock is trading above its moving averages across various time frames, indicating a positive trend. Additionally, the company has demonstrated robust long-term growth, with operating profits increasing at a compound annual growth rate (CAGR) of 94.85%, and promoters have shown confidence by increasing their stake by 25.67%.
In the broader market context, Religare Enterprises Ltd has outperformed the Sensex over the past week, with a return of 8.16% compared to the benchmark's 0.11%. Over the past month, the stock has risen by 30.02%, significantly outpacing the Sensex's 1.01% increase. This strong performance is supported by rising investor participation, as evidenced by a 181.07% increase in delivery volume compared to the five-day average. The company's consistent returns over the past three years further bolster investor confidence, contributing to the stock's upward movement.