Why is Biocon falling/rising?

As of 28-Jul, Biocon Ltd. is experiencing a decline in its stock price, currently at Rs 387.40, which reflects a decrease of Rs 6.6 or 1.68%. The stock has underperformed its sector by 1.76% today and has been on a consecutive fall for the last two days, resulting in a total drop of 2.54% during this period. Despite touching an intraday high of Rs 403, the stock is still 4.78% away from its 52-week high of Rs 405.9. Over the past month, Biocon has shown a positive return of 9.40%, contrasting with the Sensex's decline of 3.77%. However, the stock's performance over the last year has been modest, with a return of 5.10%, while profits have decreased by 7.3%. The company has a high Debt to EBITDA ratio of 3.23 times, indicating a low ability to service debt, which may contribute to investor caution.
In the broader market context, Biocon's recent performance has been slightly worse than the benchmark, as it has fallen by 1.80% over the past week compared to the Sensex's decline of 1.59%. The stock's liquidity remains adequate, but a significant drop in delivery volume by 44.23% against the 5-day average suggests a decrease in investor participation. While high institutional holdings at 28.86% and an increase in their stake by 7.47% over the previous quarter may provide some support, the overall sentiment appears to be weighed down by concerns over long-term growth and profitability, as indicated by the low Return on Equity of 6.41%.