Why is Biocon falling/rising?

As of 31-Jul, Biocon Ltd. is experiencing a decline in its stock price, currently at Rs 391.10, which reflects a decrease of Rs 6.2 or 1.56%. The stock has been losing value for the last two days, with a total drop of 1.81% during this period. It opened with a significant loss of 3.03% today and reached an intraday low of Rs 385.25. Despite this recent downturn, the stock has shown a positive performance over the past month, gaining 7.93%, and has generated a return of 7.89% over the past year, outperforming the broader market which has seen negative returns. However, the company's profitability has been under pressure, with a reported decline in profits of 7.3% over the past year, which may be contributing to the current price movement.
In the broader market context, Biocon's recent performance contrasts with the benchmark Sensex, which has declined by 1.22% over the past week. While the stock has shown resilience with a year-to-date return of 7.28%, its high Debt to EBITDA ratio of 3.23 times raises concerns about its ability to service debt, potentially impacting investor confidence. Additionally, although institutional holdings have increased, indicating some level of confidence from larger investors, the overall market sentiment remains cautious due to the company's low profitability per unit of shareholders' funds and modest long-term growth prospects.