Why is Fredun Pharma falling/rising?

As of 30-Jul, Fredun Pharmaceuticals Ltd is experiencing a price increase, currently at 973.95, reflecting a rise of 15.35 or 1.6%. The stock has recently hit a new 52-week high of Rs.1001 and has outperformed its sector by 1.26%. Over the last three days, the stock has gained 7.03%, indicating strong momentum. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a positive trend. The company has shown healthy long-term growth with net sales increasing at an annual rate of 32.11% and operating profit at 49.33%. Positive quarterly results have further bolstered investor confidence, with significant growth in net sales and profits, leading to an attractive valuation compared to peers.
In the broader market context, while the BSE500 index has reported negative returns of -2.34% over the past year, Fredun Pharmaceuticals has managed to generate a return of 10.43%, showcasing its resilience against market trends. The stock's recent performance is particularly notable given that the Sensex has declined by 1.50% over the past week and 2.54% over the past month. This contrast highlights the stock's strong market-beating performance, driven by rising investor participation and liquidity, as evidenced by a 55.84% increase in delivery volume against the 5-day average. Overall, the combination of strong financial results, positive market sentiment, and favorable technical indicators has contributed to the stock's upward movement.