Why is Sobha falling/rising?

As of 21-Jul, Sobha Ltd. is experiencing a price increase, with its current price at 1,698.50, reflecting a rise of 6.5 or 0.38%. The stock has shown strong performance recently, gaining 3.03% over the last three days and outperforming the benchmark Sensex, which has seen a slight decline of 0.06% over the same period. Additionally, Sobha's returns over the past week and month are impressive, at +10.16% and +13.49%, respectively. The company has reported outstanding financial results, including an 88.38% growth in net profit and a significant increase in profit after tax, which has positively influenced investor sentiment. However, there has been a notable decline in investor participation, with delivery volume dropping by 56.92% against the five-day average.
In the broader market context, Sobha's recent performance contrasts sharply with the benchmark Sensex, which has shown a negative return over the past week and month. This indicates that Sobha is gaining traction while the overall market is struggling. The stock's strong institutional holdings at 32.71% suggest that knowledgeable investors are confident in the company's fundamentals, further supporting its price rise. Despite the drop in delivery volume, the liquidity remains adequate for trading, which may help sustain the stock's upward momentum in the near term.