Why is Astrazeneca Phar falling/rising?

As of 03-Jul, Astrazeneca Pharma India Ltd is experiencing a price increase, currently at 9,080.40, which reflects a rise of 69.35 (0.77%). The stock has shown positive momentum, gaining 2.14% over the last two days and outperforming its sector by 0.29% today. It reached an intraday high of Rs 9,200, indicating strong investor interest. Over the past week, the stock has appreciated by 3.63%, while its year-to-date return stands at an impressive 23.80%. The company has reported high management efficiency with a return on equity (ROE) of 19.06% and a significant net profit growth of 88.82%, contributing to its positive performance. However, there are concerns regarding its high valuation, with a price-to-book ratio of 31.9, which may deter some investors.
In the broader market context, Astrazeneca Pharma's recent performance contrasts with the Sensex, which has declined by 0.62% over the past week. This divergence highlights the stock's resilience amid a challenging market environment. While the stock has consistently outperformed the BSE500 over the last three years, institutional investor participation has decreased, which could pose risks to its future growth. Despite this, the stock's strong fundamentals and consistent returns suggest a favorable outlook, even as it trades at a premium compared to its peers.