Why is Indoco Remedies falling/rising?

As of 17-Sep, Indoco Remedies Ltd's stock price is currently at 299.15, reflecting a decrease of 5.65 points or 1.85%. The stock has shown mixed performance recently, with a notable intraday high of Rs 312.55 and a low of Rs 298.5. Despite a positive return of 8.86% over the past week, the stock has underperformed its sector by 1.89% today. The company has faced significant challenges, including a drastic decline in operating profit, which has fallen at an annual rate of -190.72% over the last five years. Additionally, the company has reported negative results for the last 11 consecutive quarters, with a substantial drop in profit before tax and profit after tax compared to previous averages. This consistent underperformance, alongside high institutional holdings, suggests that while some investors may have confidence in the company's potential, the overall sentiment remains cautious due to its negative financial trajectory.
In the broader market context, the stock's short-term performance of +8.86% over the past week contrasts sharply with its year-to-date return of -10.03%, indicating a struggle to maintain momentum. The Sensex, as a benchmark, has shown a positive return of 5.83% year-to-date, highlighting Indoco Remedies' significant underperformance against the broader market. This trend of underperformance is further emphasized by the stock's returns over the past three years, where it has consistently lagged behind the BSE500 index. The combination of poor long-term growth prospects and negative operating profits has contributed to a bearish outlook for the stock, making it a risky investment in the current market environment.