Why is Concord Biotech falling/rising?

As of 08-Jul, Concord Biotech Ltd is experiencing a price increase, currently at 1,792.15, which reflects a rise of 42.15 or 2.41%. The stock has shown positive momentum recently, gaining for two consecutive days with a total return of 3.02% during this period. It opened with a gain of 2.8% today and reached an intraday high of Rs 1815, indicating strong trading activity. Despite a negative performance over the past week and month, where it fell by 0.28% and 6.67% respectively, the stock has demonstrated resilience with an annual return of 8.03%. The company has also reported strong quarterly results, with net sales growing by 57.9% and profit after tax increasing by 72.1%, contributing to positive investor sentiment. Additionally, institutional investors have increased their stake, suggesting confidence in the company's long-term fundamentals.
In the broader market context, while Concord Biotech's recent performance has been positive, it has underperformed the benchmark Sensex over the past week and month. The Sensex has shown a slight increase of 0.02% over the past week and a gain of 1.85% over the past month, contrasting with Concord's declines during those periods. However, the stock's current upward movement, coupled with rising investor participation and strong financial results, indicates a potential recovery phase, even as it continues to lag behind the broader market trends year-to-date, where it has declined by 18.91% compared to the Sensex's gain of 7.13%.