Why is Ajanta Pharma falling/rising?

As of 18-Jul, Ajanta Pharma Ltd. is currently priced at 2,775.90, reflecting a decrease of 24.1 points or 0.86%. The stock has recently experienced a trend reversal, falling after five consecutive days of gains. Despite this decline, it is noteworthy that Ajanta Pharma has outperformed the broader market over various time frames, including a 21.51% return over the past year compared to a mere 0.51% for the Sensex. However, the stock underperformed its sector today by 0.31%, and there has been a significant drop in investor participation, with delivery volume falling by 68.55% against the five-day average. The stock remains liquid enough for trading, supported by high management efficiency and a low debt-to-equity ratio.
In the broader market context, Ajanta Pharma's short-term performance has been positive, with a 6.35% increase over the past week, while the Sensex has declined by 0.90%. This indicates that the stock has been resilient compared to the overall market. Despite the recent price drop, the company benefits from high institutional holdings, which suggests confidence from more knowledgeable investors. The stock's ability to generate returns despite a challenging market environment highlights its strong fundamentals, but the recent decline may be attributed to profit-taking after a period of gains and reduced trading activity.