Why is Biocon falling/rising?

As of 03-Jul, Biocon Ltd. is experiencing a price increase, with its current price at 374.90, reflecting a rise of 6.5 (1.76%). The stock has been on an upward trend, gaining for the last seven days and achieving a total return of 7.34% during this period. Today, it outperformed its sector by 1.28%, and it is trading above all its moving averages, indicating strong momentum. Despite a recent decline in investor participation, with delivery volume falling by 33.76% against the five-day average, the stock's fundamentals remain strong, highlighted by a high inventory turnover ratio and significant growth in profit after tax. Additionally, institutional holdings have increased, suggesting confidence from larger investors.
In the broader market context, Biocon's one-week return of 6.95% significantly outpaces the Sensex, which has declined by 0.62% in the same timeframe. While the stock has shown a modest year-to-date return of 2.84%, it has lagged behind the Sensex's 6.53% gain. This performance indicates that Biocon is currently benefiting from positive internal metrics and investor sentiment, even as the overall market faces challenges.