Why is Sterlite Tech. falling/rising?

As of 22-Jul, Sterlite Technologies Ltd is experiencing a price increase, currently at Rs 119.70, reflecting a rise of 2.8 (2.4%). The stock has shown strong performance recently, gaining 5.00% over the past week and 12.88% over the past month, while it is also close to its 52-week high, just 1.96% away from Rs 122.05. Today's performance indicates that the stock has outperformed its sector by 0.51% and has been on a consecutive gain streak for the last two days, accumulating a total return of 3.82%. However, it is noteworthy that investor participation has decreased, with delivery volume falling by 58.78% compared to the 5-day average. Positive financial results, including significant growth in operating profit and net profit, along with an increase in institutional investor participation, have contributed to the stock's upward movement, despite a decline in profits over the past year.
In the broader market context, Sterlite Technologies Ltd's performance has outpaced the benchmark, with a 1-year return of 13.74% compared to the BSE500's return of only 0.99%. This strong relative performance highlights the stock's resilience and attractiveness to investors, particularly in light of the recent increase in institutional stakes, which suggests confidence in the company's fundamentals. While the stock has been performing well, the decline in delivery volume may indicate a potential concern regarding retail investor interest, which could impact future price movements. Overall, the combination of strong financial results and institutional support has positioned Sterlite Technologies Ltd favorably in the market.