Why is Dr Lal Pathlabs falling/rising?

As of 12-Sep, Dr Lal Pathlabs Ltd is experiencing a price increase, currently at Rs 3,324.00, reflecting a rise of Rs 64.95 or 1.99%. The stock has shown strong performance today, outperforming its sector by 1.72% and achieving a consecutive gain over the last three days with a total return of 4.85%. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a significant drop in delivery volume, which fell by 58.73% against the 5-day average, the company benefits from strong long-term fundamentals, including a robust average Return on Equity (ROE) of 20.50% and a low Debt to Equity ratio. Positive quarterly results have further bolstered investor confidence, with net sales reaching Rs 669.80 crore and a growth in profit after tax of 24.4%.
In the broader market context, Dr Lal Pathlabs has outperformed the Sensex over the past week and month, with returns of 2.09% and 2.17%, respectively, compared to the Sensex's 1.48% and 2.08%. Year-to-date, the stock has gained 11.17%, significantly outpacing the Sensex's 4.82% increase. However, it is important to note that the stock has underperformed over the past year, with a decline of 2.89% compared to the Sensex's slight drop of 1.28%. The high institutional holdings at 39.6% suggest that informed investors are backing the stock, which may contribute to its current upward movement despite the recent volatility in trading volume.