Why is Glenmark Pharma falling/rising?

As of 16-Jul, Glenmark Pharmaceuticals Ltd. is currently priced at 2,202.90, reflecting a decrease of 27.6 points or 1.24%. The stock has recently experienced a trend reversal, falling after four consecutive days of gains. Despite this decline, Glenmark has shown strong performance over various periods, with a 56.34% return over the past year and a remarkable 479.02% increase over the last three years. However, today's performance underperformed the sector by 0.97%, and there has been a significant drop in investor participation, with delivery volume falling by 63.49% compared to the five-day average. The company maintains a low Debt to EBITDA ratio of 1.00 times, indicating a strong ability to service debt, and has reported positive results for the last four consecutive quarters, which may provide some support to the stock despite the current decline.
In the broader market context, Glenmark's short-term return of 20.98% over the past week stands in stark contrast to the Sensex, which has decreased by 1.08% during the same period. This indicates that while the stock has been performing well relative to the market, the recent dip could be attributed to profit-taking after a strong rally and reduced trading volume. The high institutional holdings at 37.8% suggest that knowledgeable investors are backing the stock, which could help stabilize it in the face of recent volatility. Overall, while Glenmark has shown strong long-term performance, the recent price drop reflects a combination of profit-taking and reduced trading activity.