Why is Ajanta Pharma falling/rising?

As of 04-Nov, Ajanta Pharma Ltd. is experiencing a rise in its stock price, currently at Rs 2,595.60, reflecting an increase of Rs 56.3 or 2.22%. The stock has shown strong performance recently, outperforming its sector by 2.69% and achieving a consecutive gain over the last two days with a total return of 5.33%. It reached an intraday high of Rs 2,622, and its delivery volume has increased by 19.14% compared to the 5-day average, indicating rising investor participation. Despite a year-to-date decline of 11.89% and a one-year drop of 13.37%, the stock has performed well in the short term with an 8.79% increase over the past week.
In the broader market context, while Ajanta Pharma has outperformed the Sensex in the short term, the benchmark index has seen a decline of 1.38% over the same period. The company's high management efficiency, indicated by a return on equity (ROE) of 22.06%, and a low debt-to-equity ratio contribute positively to its appeal. However, concerns about long-term growth persist, as evidenced by modest net sales growth and an expensive valuation relative to peers. The stock's performance over the past year has been disappointing compared to the market's overall gains, which highlights the challenges it faces despite recent positive movements.