Why is Glenmark Pharma falling/rising?

As of 19-Sep, Glenmark Pharmaceuticals Ltd. is experiencing a decline in its stock price, currently at 2,084.60, which reflects a decrease of 27.55 or 1.3%. The stock has underperformed its sector today by 1.57%, although it remains higher than its 20-day, 50-day, 100-day, and 200-day moving averages, indicating some strength in the longer-term trend. Over the past week, the stock has decreased by 1.89%, while it has shown a positive return of 7.13% over the last month. The company has demonstrated strong performance over the past three years, with a remarkable 462.49% increase, and has consistently outperformed the BSE500 index. Additionally, the company's low Debt to EBITDA ratio of 1.00 times and high institutional holdings at 38.3% suggest a solid financial foundation and confidence from larger investors, which may support the stock despite its current decline.
In the broader market context, Glenmark's recent performance contrasts with the Sensex, which has gained 0.88% over the past week. This underperformance relative to the benchmark may contribute to the stock's downward movement today. However, the stock's year-to-date return of 29.57% significantly outpaces the Sensex's 5.74%, indicating that while it may be facing short-term challenges, the long-term outlook remains positive. The rising investor participation, evidenced by an 88.72% increase in delivery volume, suggests that there is still interest in the stock, which could help stabilize its price in the future.