Why is Sterlite Tech. falling/rising?

As of 29-Jul, Sterlite Technologies Ltd is experiencing a price increase, currently at Rs. 128.40, reflecting a rise of Rs. 1.55 or 1.22%. The stock has recently hit a new 52-week high of Rs. 132.55 and has shown strong performance, gaining 11.7% over the last three days. It has outperformed its sector by 0.79% today and is trading above all key moving averages, indicating a bullish trend. Additionally, the company has reported positive financial results over the last two quarters, with significant growth in operating profit and net sales, which has contributed to increased investor confidence. Institutional investors have also raised their stakes, suggesting a favorable outlook for the company.
In the broader market context, while the BSE500 has generated negative returns of -2.26% over the past year, Sterlite Technologies has managed to deliver a return of 16.39%, showcasing its resilience against market trends. The stock's performance over the past week and month, with increases of 7.27% and 19.39% respectively, further highlights its strength compared to the benchmark, which has seen declines. This contrast in performance indicates that Sterlite Technologies is attracting investor interest despite broader market challenges, reinforcing its upward price movement.