Why is Biocon falling/rising?

As of 18-Jul, Biocon Ltd. is experiencing a price increase, currently at Rs. 398.90, which reflects a change of 2.3 (0.58%) upward. The stock has recently hit a new 52-week high of Rs. 405.9 and has shown strong performance, gaining 7.23% over the last six days. It is currently trading above all key moving averages, indicating positive momentum. Over the past week, Biocon has outperformed the sector by 1.13%, and its year-to-date return stands at 9.42%, significantly higher than the benchmark's 4.63%. Positive factors contributing to this rise include a high inventory turnover ratio and substantial growth in profit after tax, which has increased by 69% compared to the previous four-quarter average. Additionally, institutional holdings have risen, suggesting confidence from larger investors.
In the broader market context, while the BSE500 index has shown a negative return of -0.36% over the last year, Biocon has managed to generate a return of 16.04%, indicating strong relative performance. However, it is important to note that the company faces challenges such as a high Debt to EBITDA ratio, which raises concerns about its ability to service debt, and a low return on equity, suggesting limited profitability. Despite these risks, the stock's recent gains reflect a favorable market perception, bolstered by strong institutional support and positive operational metrics.