Why is Sterlite Tech. falling/rising?

As of 05-Sep, Sterlite Technologies Ltd is experiencing a price increase, currently at Rs 110.90, which reflects a rise of 2.8 or 2.59%. Today, the stock opened with a significant gain of 5.23% and reached an intraday high of Rs 118, indicating strong initial investor interest. However, despite this positive movement, the stock has underperformed in the longer term, with a 1-month decline of 12.16% and a 3-year drop of 13.57%. The company has shown positive financial results in the last two quarters, with a notable growth in net sales and profits, contributing to its current valuation being attractive compared to peers.
In the broader market context, while the stock has outperformed its sector by 2.96% today, it has lagged behind the benchmark Sensex over the past week, which has gained 1.13%. The stock's year-to-date performance remains strong at 29.51%, contrasting with the Sensex's 3.29% increase. Despite the recent positive price movement, there is a noted decline in investor participation, with delivery volume down by 4.82% compared to the 5-day average, which may indicate caution among investors. Overall, while Sterlite Technologies Ltd shows potential for growth based on recent earnings, its longer-term performance relative to the market suggests a mixed outlook.