Why is Tips Music falling/rising?

As of 16-Oct, Tips Music Ltd's stock price is currently at 533.65, reflecting an increase of 32.25, or 6.43%. Today's price movement is notable as the stock has gained after three consecutive days of decline, opening with a gain of 5.66%. It reached an intraday high of Rs 549.45, indicating strong intraday performance. Additionally, the stock has outperformed its sector by 5.14%. Despite this positive movement, the stock has underperformed in the longer term, with a year-to-date decline of 30.12% compared to a 6.82% rise in the benchmark. However, the company shows strong long-term fundamentals, with a high average return on equity of 61.93% and significant growth in net sales and operating profit.
Broader Market Context: In the short term, Tips Music's performance has been weaker than the benchmark, as evidenced by its 1-week return of -1.96% compared to the Sensex's gain of 1.58%. Despite this, there is increasing participation from institutional investors, who have raised their stake in the company, indicating confidence in its long-term potential. The substantial rise in delivery volume by 419.47% against the 5-day average suggests renewed interest from investors, which may be contributing to the stock's recent upward movement. Overall, while the stock has faced challenges in the past year, the recent positive developments and strong fundamentals may be driving its current rise.