Why is Biocon falling/rising?

As of 04-Jul, Biocon Ltd. has seen its stock price rise to 380.15, reflecting an increase of 5.25 or 1.4%. The stock has been on an upward trend, gaining for the last eight consecutive days and achieving a total return of 8.85% during this period. It is currently outperforming its sector by 0.89% today and is trading above all its moving averages, indicating strong momentum. Despite a decline in delivery volume by 13.12% compared to the 5-day average, the stock's attractive valuation, highlighted by a high inventory turnover ratio and significant growth in profit after tax, supports its recent price increase. Additionally, high institutional holdings, which have risen by 7.07% in the previous quarter, suggest confidence in the stock's fundamentals.
In the broader market context, Biocon's short-term return of 7.36% over the past week significantly outperforms the Sensex, which has declined by 0.74% during the same period. While the stock has generated a modest return of 5.28% over the past year, it has lagged behind the Sensex's 4.23% return, indicating that the stock's recent performance is driven more by specific company factors rather than broader market trends. The overall market sentiment appears to be less favorable, as evidenced by the Sensex's positive return of 3.01% over the past month, contrasting with Biocon's stronger performance.