Why is Sapphire Foods falling/rising?

As of 23-Jul, Sapphire Foods India Ltd is experiencing a price increase, currently at Rs 344.40, reflecting a rise of Rs 5.7 or 1.68%. The stock has shown positive momentum, having gained 3.01% over the last two days and outperforming its sector by 1.13% today. It reached an intraday high of Rs 356.5, although it also saw a low of Rs 321.3, indicating a wide trading range of Rs 35.2. Over the past year, the stock has generated a return of 10.42%, despite a significant decline in profits by 33.4%. The stock is currently trading at a discount compared to its peers, which may attract investors looking for value. However, the falling delivery volume suggests a decrease in investor participation, which could be a concern for future price stability.
In the broader market context, Sapphire Foods has outperformed the Sensex over the past week and month, with returns of 3.11% and 4.32%, respectively, compared to the benchmark's 0.11% and 1.01%. This indicates that the stock is gaining traction relative to the overall market. The high institutional holdings at 68.92% suggest that knowledgeable investors are backing the stock, which may provide additional confidence to retail investors. However, the stock's year-to-date performance of 2.81% is lagging behind the Sensex's 5.87%, highlighting a mixed performance in the context of broader market trends.