Why is Concord Biotech falling/rising?

As of 30-Jun, Concord Biotech Ltd's stock price is currently at Rs 1,834.55, reflecting an increase of Rs 11.15 or 0.61%. The stock has been gaining for the last two days, with a total return of 2.16% during this period. It has performed well over the past month, with a return of 4.83%, although it has underperformed year-to-date with a decline of 16.99%. The company recently reported strong quarterly results, with net sales and operating profit reaching their highest levels, which has likely contributed to positive sentiment among investors. Additionally, institutional investors have increased their stake, indicating confidence in the company's long-term fundamentals, despite the stock's high valuation relative to its return on equity.
In the broader market context, the stock's short-term performance of 0.66% over the past week is lower than the benchmark Sensex, which has risen by 2.09% during the same period. While Concord Biotech has shown a strong return of 18.53% over the past year, it still lags behind the benchmark's performance of 5.79% in the same timeframe. This disparity in performance may be influencing investor sentiment, as the stock's recent gains are not keeping pace with the broader market trends.