Why is Indoco Remedies falling/rising?

As of 16-Sep, Indoco Remedies Ltd is experiencing a price increase, currently at Rs 304.80, reflecting a rise of Rs 10.6 or 3.6%. The stock has shown a positive trend today, outperforming its sector by 3.32% and reversing a two-day decline. It reached an intraday high of Rs 327.65, marking an increase of 11.37%. Despite this short-term gain, the stock has underperformed over the longer term, with a year-to-date return of -8.33% and a one-year return of -16.78%. The company has faced significant challenges, including a drastic decline in operating profit and negative results for the last 11 consecutive quarters, which has contributed to its overall poor performance.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has gained 5.43% year-to-date. While Indoco Remedies has shown a short-term recovery, its long-term outlook remains concerning due to consistent underperformance against benchmarks over the past three years. The high institutional holdings at 20.18% suggest that some investors may have confidence in the company's fundamentals, but the significant drop in operating profit and negative earnings results indicate a risky investment environment. Overall, while the stock is rising in the short term, the underlying financial issues may limit its future growth potential.