Why is Alembic falling/rising?

As of 10-Jul, Alembic Ltd's stock price is currently at Rs 118.55, reflecting an increase of Rs 1.45 or 1.24%. The stock has shown a trend reversal, gaining after three consecutive days of decline, and it outperformed its sector by 1.81% today. The stock reached an intraday high of Rs 119.65, indicating positive momentum. Over the past week, however, it has experienced a slight decline of 0.75%, while over the past month, it has risen by 5.57%. Despite a year-to-date drop of 10.36%, the company has demonstrated healthy long-term growth with a significant annual operating profit increase of 142.59% and has reported positive results for the last six consecutive quarters. However, the stock's valuation appears expensive with a Price to Book Value of 1.3, and domestic mutual funds hold no stake, which may indicate a lack of confidence in the current price.
In the broader market context, Alembic Ltd has underperformed the benchmark Sensex, which has gained 0.97% over the past month, while Alembic's performance has been more volatile with a recent decline. The stock's year-long performance shows a significant underperformance compared to the market, with a return of -14.37% against the Sensex's 4.09%. This disparity highlights the challenges Alembic faces in gaining investor confidence, especially given its low domestic mutual fund ownership, which could reflect concerns about its valuation and market position.