Why is Glenmark Pharma falling/rising?

As of 10-Jul, Glenmark Pharmaceuticals Ltd. is experiencing a price increase, currently at Rs. 1,905.15, reflecting a rise of 84.3 points or 4.63%. The stock has recently hit a new 52-week and all-time high of Rs. 1,919, outperforming its sector by 5.2%. It has shown a trend reversal after two consecutive days of decline, with a significant intraday high of Rs. 1,919. The stock has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 71.77% compared to the 5-day average. The company's strong financial performance is underscored by a low Debt to EBITDA ratio of 1.00 times, positive results for the last four consecutive quarters, and a significant increase in profits by 241.1% over the past year, contributing to its favorable valuation compared to peers.
In the broader market context, Glenmark Pharmaceuticals has outperformed the benchmark Sensex in both the short-term and long-term, with a 6.74% gain over the past week while the Sensex has remained flat at -0.06%. Year-to-date, the stock has increased by 18.42%, compared to the Sensex's 6.46% rise. The high institutional holdings at 37.8% indicate strong confidence from knowledgeable investors, further supporting the stock's upward momentum. Overall, Glenmark's consistent returns over the past three years and its ability to generate substantial profits have positioned it favorably in the market, contributing to its rising stock price.