Why is Bafna Pharma. falling/rising?

As of 29-Aug, Bafna Pharmaceuticals Ltd is experiencing a price increase, currently at 102.00, reflecting a rise of 2.76 (2.78%). The stock has shown strong performance today, outperforming its sector by 2.75% and has gained 7.48% over the last three days. It opened with a gain of 2.58% and reached an intraday high of Rs 104.2. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the company has demonstrated strong financial health with a low Debt to EBITDA ratio of 1.30 times, and impressive profit growth, with a 944% increase in profits over the past year, contributing to its favorable valuation compared to peers.
In the broader market context, while the BSE500 has generated negative returns of -5.40% over the past year, Bafna Pharmaceuticals has managed to achieve a return of 24.39%, showcasing its resilience against market downturns. The stock's recent upward movement is further supported by increasing participation from institutional investors, who have raised their stake by 0.81% in the last quarter, indicating confidence in the company's fundamentals. Overall, Bafna Pharmaceuticals' strong financial performance, positive investor sentiment, and ability to outperform the broader market contribute significantly to its rising stock price.