Why is Religare Enterp. falling/rising?

As of 03-September, Religare Enterprises Ltd is experiencing a price increase, currently at Rs 252.95, which reflects a rise of Rs 10.95 or 4.52%. The stock has been gaining momentum over the past three days, resulting in a total return of 7.18% during this period. It has outperformed its sector by 3.68% today and has consistently traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, it is important to note that the delivery volume has decreased significantly, falling by 54.59% compared to the 5-day average, indicating a decline in investor participation. Despite this, the company shows strong long-term fundamental strength, with operating profits growing at a compound annual growth rate (CAGR) of 34.87%, which supports its recent positive price movement.
In the broader market context, Religare Enterprises Ltd has outperformed the Sensex in the short term, with a weekly return of +5.51% compared to the benchmark's -0.27%. However, over the longer term, the stock has underperformed, with a year-to-date return of -7.97% against the Sensex's +3.11%. This contrast highlights the stock's recent strength despite its overall weaker performance in the longer time frames. The majority of shareholders being non-institutional may also contribute to the stock's volatility, reflecting a more retail-driven market sentiment.