Why is ERIS Lifescience falling/rising?

As of 19-Sep, ERIS Lifesciences Ltd is experiencing a slight increase in its stock price, currently at Rs 1,640.80, reflecting a change of 2.9 (0.18%) upward. The stock has shown a trend reversal, gaining after two consecutive days of decline, and reached an intraday high of Rs 1,689.8, marking a 3.17% increase. Despite a 5.37% decline over the past month, the stock has demonstrated strong performance year-to-date with a 19.86% increase and has consistently outperformed the BSE500 over the last three years. The company benefits from high management efficiency, a low debt-to-EBITDA ratio, and strong institutional holdings, which contribute positively to investor sentiment and support the stock's recent upward movement.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has gained 0.88% over the past week, while ERIS Lifesciences has declined by 2.04% in the same period. This indicates that while the stock is currently rising, it has underperformed relative to the market in the short term. However, the rising investor participation, evidenced by a significant increase in delivery volume, suggests a growing interest in the stock, which may help sustain its upward momentum despite recent fluctuations.