Why is Fredun Pharma falling/rising?

As of 26-Aug, Fredun Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at Rs 1,168.45, reflecting a decrease of Rs 98.35 or 7.76%. Today's price summary indicates that the stock has underperformed its sector by 5.96% and has seen a trend reversal after three consecutive days of gains. The stock reached an intraday high of Rs 1,319 but also fell to a low of Rs 1,154.9, showcasing high volatility with a wide trading range of Rs 164.1. Despite this drop, the stock has shown strong performance over the past week and month, with returns of 10.24% and 28.40%, respectively. The company has reported healthy long-term growth, with net sales and operating profit increasing significantly, and has consistently delivered positive results over the last five quarters. However, the lack of domestic mutual fund investment may indicate some investor caution regarding the stock's current valuation.
In the broader market context, while Fredun Pharmaceuticals has outperformed the benchmark BSE500 with a one-year return of 46.46% compared to the benchmark's decline of 3.87%, the recent price drop suggests a correction after a period of strong performance. The stock's high volatility today, coupled with a significant drop in price, may reflect profit-taking by investors following its strong gains. Additionally, the stock's performance relative to the benchmark indicates that while it has been a strong performer overall, the recent decline could be a response to market dynamics and investor sentiment shifting after a period of rapid appreciation.