Why is Ipca Labs falling/rising?

As of 24-Jul, Ipca Laboratories Ltd's stock price is rising, currently at 1,541.65, reflecting an increase of 76.55 or 5.22%. The stock has shown strong performance today, outperforming its sector by 4.87% and achieving a consecutive gain over the last two days with a total return of 5.83%. It reached an intraday high of Rs 1553.35, and is trading above its moving averages across various time frames. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 213.6% compared to the five-day average. The company has also reported positive results for the last four consecutive quarters, with a notable growth in profit after tax and a high return on capital employed, which has likely contributed to the stock's upward movement.
In the broader market context, Ipca Laboratories has outperformed the benchmark Sensex over the past week, gaining 4.47% while the index has slightly declined by 0.09%. Over the past month, the stock has increased by 15.74%, contrasting with the Sensex's modest rise of 0.16%. Despite a year-to-date decline of 8.86%, the stock's one-year return of 25.03% significantly surpasses the market's performance, indicating strong investor confidence. The high institutional holdings at 46.87% suggest that informed investors are backing the stock, further supporting its recent price increase.