Why is Fredun Pharma falling/rising?

As of 29-Aug, Fredun Pharmaceuticals Ltd is experiencing a price increase, currently at 1,159.95, reflecting a rise of 23.95 or 2.11%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 2.08% today. Over the past week, the stock has decreased by 7.50%, but it has significantly outperformed the benchmark with a one-month return of 21.00% compared to the Sensex's decline of 1.88%. The company has demonstrated strong financial performance, with net sales growing at an annual rate of 38.16% and operating profit at 56.18%. Positive results over the last five consecutive quarters have bolstered investor confidence, contributing to the stock's upward movement.
In the broader market context, while the stock has shown resilience with a year-to-date return of 57.33% against the Sensex's modest gain of 2.14%, it is noteworthy that domestic mutual funds hold no stake in the company, which may indicate a lack of confidence in its valuation or business prospects. This lack of institutional backing could pose a risk to the stock's future performance. Despite this, the stock's ability to generate a return of 47.30% over the past year, while the broader market has faced negative returns, highlights its strong market-beating performance, suggesting that investors remain optimistic about its long-term growth potential.