Why is Ajanta Pharma falling/rising?

As of 24-Jul, Ajanta Pharma Ltd. is experiencing a price increase, currently at 2,794.85, reflecting a rise of 74.55 or 2.74%. The stock has shown a trend reversal, gaining after four consecutive days of decline, and it outperformed its sector by 2.39% today. It reached an intraday high of Rs 2809.15, indicating positive momentum. Over the past month, the stock has increased by 9.22%, significantly outperforming the Sensex, which only rose by 0.16%. Despite a year-to-date decline of 5.12%, Ajanta Pharma has delivered a strong annual return of 17.24%, well above the market's 2.54%. The company benefits from high management efficiency, a low debt-to-equity ratio, and substantial institutional holdings, which contribute to its resilience and attractiveness to investors.
In the broader market context, Ajanta Pharma's recent performance contrasts with the benchmark, as it has outperformed the Sensex in the short term, with a slight decline of 0.18% over the past week compared to the Sensex's 0.09% drop. However, the stock's liquidity remains adequate, despite a notable decrease in delivery volume, which fell by 47.95% against the five-day average. This suggests that while investor participation has waned, the stock's fundamentals and historical performance continue to support its upward movement.