Why is Concord Biotech falling/rising?

As of 01-Sep, Concord Biotech Ltd's stock price is currently at 1,693.05, reflecting an increase of 13.5, or 0.8%. The stock has shown a positive performance today, outperforming its sector by 0.83% and has experienced consecutive gains over the last two days, rising by 1.63% during this period. It opened with a notable gain of 4.07% and reached an intraday high of Rs 1,747.95. However, the stock's performance over the past week and month has been negative, with declines of 1.28% and 2.68%, respectively. Additionally, the company has reported a significant drop in profit after tax and net sales, which are at their lowest levels, contributing to concerns about its long-term growth despite a high return on equity and low debt levels.
In the broader market context, while Concord Biotech's stock has outperformed the Sensex today, it has underperformed over the longer term, with a year-to-date decline of 23.39% compared to the Sensex's gain of 2.85%. The stock's recent gains may be attributed to short-term trading dynamics, but the overall trend indicates a lack of investor confidence, particularly among institutional investors who have reduced their stakes. This decline in institutional participation, coupled with the company's expensive valuation and poor long-term growth prospects, suggests that while there may be short-term upward movements, the overall outlook remains challenging.