Why is Alembic falling/rising?

As of 16-Jul, Alembic Ltd's stock price is currently at Rs 121.30, reflecting an increase of Rs 1.4 or 1.17%. The stock has shown positive momentum, gaining 3.5% over the last three days and outperforming its sector by 1.44% today. It has also touched an intraday high of Rs 122.4. In the context of returns, Alembic has performed well in the short term, with a 1-week return of +3.59% compared to the Sensex's -1.08%. The company has demonstrated strong operational performance, with a significant annual growth rate of 142.59% in operating profit and positive results for the last six consecutive quarters. However, it faces challenges with a high valuation indicated by a Price to Book Value of 1.3 and a low stake from domestic mutual funds, suggesting a lack of confidence at current price levels.
Broader market context indicates that while Alembic has outperformed the sector recently, it has significantly underperformed the market over the past year, with a return of -21.16% compared to the BSE500's 0.47%. Despite the recent positive price movement, the stock's year-to-date performance remains negative at -8.28%, contrasting with the Sensex's positive return of +5.75%. This divergence highlights the stock's struggle to gain traction in the broader market, despite recent gains and strong operational metrics.