Why is Concord Drugs falling/rising?

As of 03-Jul, Concord Drugs Ltd is experiencing a price increase, currently at Rs. 53.29, reflecting a rise of Rs. 2.14 or 4.18%. The stock has recently hit a new 52-week high of Rs. 53.95 and has shown strong performance, gaining 71.9% over the last six days. It is outperforming its sector by 3.7% today and is trading above all key moving averages, indicating positive momentum. Despite a decline in profits over the past year, the stock's attractive valuation and strong historical performance, with a 34.67% return in the last year and significant gains over longer periods, contribute to its rising price.
In the broader market context, Concord Drugs has significantly outperformed the Sensex, with a 67.58% return over the past week compared to a slight decline of 0.62% in the benchmark index. This trend of strong stock performance relative to the market is evident in both short-term and long-term comparisons, highlighting the company's ability to attract investor interest despite some underlying weaknesses, such as a decline in operating profits and low profitability metrics. The rising investor participation, as indicated by increased delivery volumes, further supports the stock's upward movement amidst a generally stable market environment.