Why is TBO Tek falling/rising?

As of 22-Jul, TBO Tek Ltd's stock price is currently at Rs 1,431.00, reflecting an increase of Rs 30.0 or 2.14%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and reached an intraday high of Rs 1,455, which is a 3.85% increase. Despite this positive movement, the stock has underperformed its sector by 2.56% today. Over the past week, TBO Tek has experienced a return of +2.03%, while its performance over the last month is notably stronger at +13.74%. The company benefits from strong long-term fundamentals, including a high average Return on Equity (ROE) of 28.30% and significant growth in net sales and operating profit. Additionally, high institutional holdings at 49.49% suggest confidence from knowledgeable investors, which may support the stock's recent upward movement.
In the broader market context, TBO Tek's short-term performance contrasts with the Sensex, which has declined by 0.47% over the past week. While TBO Tek's recent gains are encouraging, the overall market sentiment appears to be less favorable, as indicated by the sector's performance and falling investor participation, with delivery volume dropping significantly. Despite these challenges, TBO Tek's strong fundamentals and position as the second-largest company in its sector may provide a buffer against broader market fluctuations, contributing to its recent price rise.