Why is Concord Biotech falling/rising?

As of 18-Sep, Concord Biotech Ltd's stock price is currently at 1,669.80, reflecting an increase of 33.65 or 2.06%. The stock has shown positive momentum, outperforming its sector by 1.01% today and achieving a consecutive gain over the last two days, with a total return of 2.76% in this period. However, despite this short-term rise, the company has faced significant challenges, including a 52.6% decline in PAT for the latest quarter and the lowest net sales recorded at Rs 203.99 crore. The company’s high valuation, indicated by a Price to Book Value of 9.6, along with a poor long-term growth outlook, has contributed to a negative sentiment around the stock, as evidenced by a year-to-date decline of 24.44%.
In the broader market context, Concord Biotech's recent performance of +2.06% over the past week slightly outpaces the Sensex, which has increased by 1.80% in the same timeframe. However, the stock's long-term performance remains concerning, with a decline of 23.59% over the past year, contrasting sharply with the Sensex's marginal gain of 0.08%. Additionally, the falling participation from institutional investors, who have reduced their stake, suggests a lack of confidence in the company's fundamentals, further impacting the stock's appeal in the market.