Why is Eiko Lifescience falling/rising?

As of 30-Jul, Eiko Lifesciences Ltd is experiencing a price increase, currently at Rs 56.99, reflecting a rise of 1.93 or 3.51%. The stock has shown strong performance today, having outperformed its sector by 3.41% and gaining 8.57% over the last two days. It opened with a significant gain of 6.25% and reached an intraday high of Rs 58.5. Despite a day’s low of Rs 53.84, the stock is trading above its moving averages across various timeframes. Positive financial results reported on June 25, including the highest quarterly PBDIT and operating profit margins, alongside a notable increase in promoter stake by 0.51%, indicate rising confidence in the company’s future, contributing to the stock's upward movement.
In the broader market context, Eiko Lifesciences has outperformed the Sensex in the short term, with a 1-week return of +5.11% compared to the benchmark's -1.50%. While the stock has faced a decline of 9.16% year-to-date, its recent performance contrasts sharply with the benchmark's negative returns over the same period. The company's rising profits, reflected in a PEG ratio of 0.7, suggest that it is trading at a fair valuation compared to peers, which may attract investor interest despite its long-term fundamental weaknesses indicated by a lower average Return on Equity.