Why is Concord Biotech falling/rising?

As of 06-Aug, Concord Biotech Ltd's stock price is currently at 1,638.30, reflecting a decline of 61.6 points or 3.62%. The stock has been underperforming, having lost 16.03% over the last 10 days and is trading lower than its moving averages across various time frames. Despite opening with a gain of 6.1% today and reaching an intraday high of Rs 1803.6, it faced significant volatility, touching a low of Rs 1624.65. The stock's performance over the past week shows a decline of 9.55%, while its year-to-date performance is down 25.87%. However, the company has demonstrated strong long-term fundamentals, with a healthy return on equity and significant growth in operating profit, which may provide some support to the stock in the long run.
In the broader market context, Concord Biotech's recent performance contrasts sharply with the Sensex, which has only declined by 1.15% over the past week. The pharmaceuticals and drugs sector, in which Concord operates, has also seen a decline of 2.06%. Despite the stock's recent struggles, there has been a notable increase in investor participation, with delivery volume rising significantly. This suggests that while the stock is currently facing downward pressure, there may be underlying strength and interest from investors that could influence future performance positively.