Why is Glenmark Pharma falling/rising?

As of 18-Sep, Glenmark Pharmaceuticals Ltd. is experiencing a price increase, currently at Rs 2,112.15, reflecting a rise of 74.8 points or 3.67%. The stock has shown a trend reversal, gaining after three consecutive days of decline. It reached an intraday high of Rs 2,115, which is a 3.81% increase. Additionally, Glenmark Pharma is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive momentum. The stock has delivered a 6.98% return over the past month and an impressive 31.28% year-to-date, significantly outperforming the BSE500 index over the same periods. The company's low Debt to EBITDA ratio of 1.00 times and high institutional holdings at 38.3% suggest strong fundamentals and confidence from larger investors, contributing to the stock's upward movement.
In the broader market context, Glenmark's recent performance contrasts with the Sensex, which has gained 1.80% over the past week and 2.14% over the past month. While Glenmark's short-term return of -0.41% over the last week lags behind the benchmark, its longer-term performance, particularly a 467.02% increase over the last three years, highlights its resilience and growth potential. The rising investor participation, with an increase in delivery volume, further supports the stock's positive outlook, indicating that investors are increasingly willing to engage with Glenmark despite recent fluctuations.