Why is Eiko Lifescience falling/rising?

As of 02-Jul, Eiko Lifesciences Ltd is experiencing a significant rise in its stock price, currently at Rs 58.00, reflecting an increase of Rs 8.19 or 16.44%. Today's price summary indicates that the stock has outperformed its sector by 17.67% and has shown a trend reversal after two consecutive days of decline. Additionally, the stock reached an intraday high of Rs 59.71, demonstrating strong volatility with an intraday fluctuation of 9.28%. Over the past year, Eiko Lifesciences has generated a return of 23.27%, which is notably higher than the market's average return of 3.11%. The recent increase in promoter confidence, with a 4.96% rise in their stake, further supports the positive sentiment around the stock despite its long-term fundamental weaknesses, such as a low average Return on Equity (ROE) of 2.82%.
In the broader market context, Eiko Lifesciences has outperformed the benchmark Sensex in the short term, with a 1-week return of 18.68% compared to the Sensex's 0.79%. This strong performance in the short term contrasts with its year-to-date performance, which shows a decline of 7.55% against the Sensex's gain of 6.75%. The stock's recent upward movement, coupled with rising investor participation and a favorable market sentiment, suggests a positive outlook, even as concerns about its long-term fundamentals persist.