Why is Sterlite Tech. falling/rising?

As of 28-Jul, Sterlite Technologies Ltd is experiencing a significant rise in its stock price, currently at 126.85, reflecting an increase of 9.85 or 8.42%. The stock has recently hit a new 52-week high of Rs. 128.3 and has outperformed its sector by 8.61%. Over the past week, the stock has gained 8.51%, and in the last month, it has risen by 17.95%. The company has shown strong financial performance, with positive results in the last two quarters, including a notable growth in net sales and profits. Additionally, institutional investors have increased their stake, indicating confidence in the company's fundamentals, which has contributed to the stock's upward momentum.
In the broader market context, while the benchmark Sensex has declined by 1.59% over the past week and 3.77% over the last month, Sterlite Technologies has managed to deliver positive returns, highlighting its resilience and market-beating performance. The stock's ability to generate a return of 15.10% over the past year, despite a generally negative market environment, further underscores its strong position. This divergence from the broader market trends, combined with rising investor participation and favorable financial metrics, supports the stock's recent price increase.