Why is Glenmark Pharma falling/rising?

As of 08-Jul, Glenmark Pharmaceuticals Ltd. is experiencing a decline in its stock price, currently at Rs 1,824.30, which reflects a decrease of Rs 38.05 or 2.04%. Today's price summary indicates that the stock has underperformed its sector by 1.11% and has fallen after six consecutive days of gains, touching an intraday low of Rs 1,822.45. Despite this recent downturn, the stock has shown strong performance over the past week, month, year-to-date, and year, with returns of 3.98%, 14.74%, 13.39%, and 34.88% respectively. The company has a low Debt to EBITDA ratio of 1.00 times, positive results for the last four quarters, and a high institutional holding of 37.8%, which suggests a solid financial foundation and investor confidence, although the recent price drop may indicate profit-taking after a strong rally.
In the broader market context, Glenmark's recent performance contrasts with the Sensex, which has seen minimal movement with a 0.02% increase over the past week. While Glenmark has outperformed the benchmark significantly over longer periods, the current decline may reflect a temporary correction after a strong upward trend. The stock's ability to maintain trading above its moving averages and the increase in delivery volume by 59.38% against the five-day average suggests ongoing investor interest, despite the recent price drop. Overall, while the stock is facing short-term pressure, its long-term fundamentals remain strong, indicating potential for recovery.