Why is Concord Biotech falling/rising?

As of 15-Jul, Concord Biotech Ltd's stock price is currently at 1,846.00, reflecting an increase of 14.25 (0.78%). The stock has shown a positive trend recently, gaining 2.84% over the last two days, although it underperformed its sector by 0.47% today. In the past week, the stock has risen by 3.00%, contrasting with a decline of 12.72% over the past month. Despite these gains, the stock's performance year-to-date remains negative at -16.47%. The company has demonstrated strong long-term fundamentals, with an average Return on Equity (ROE) of 20.62% and significant growth in operating profit. However, the stock is considered very expensive with a high Price to Book Value of 12.1, which may be a concern for some investors.
Broader market context indicates that while Concord Biotech has experienced a short-term recovery, it has lagged behind the Sensex, which has gained 1.79% over the past month and 5.67% year-to-date. The stock's recent rise may be supported by increasing participation from institutional investors, who have raised their stake by 0.52% in the last quarter, indicating confidence in the company's fundamentals. However, the falling delivery volume suggests a decrease in investor participation, which could pose risks to sustained price increases. Overall, while the stock has shown some positive movement, its longer-term performance remains a concern compared to broader market trends.