Why is Ipca Labs falling/rising?

As of 25-Jul, Ipca Laboratories Ltd is experiencing a decline in its stock price, currently at 1,511.80, which reflects a decrease of 29.85 or 1.94%. Today's price summary indicates that the stock has underperformed its sector by 2.11% and has seen a trend reversal after two consecutive days of gains. The stock reached an intraday high of Rs 1,594.55 but also touched a low of Rs 1,490.55, with more trading volume occurring closer to this lower price. Despite this decline, Ipca Labs has shown strong performance over the past month with an 11.00% increase, and over the past year, it has outperformed the market with a 19.81% return compared to the Sensex's 1.78%. The company has maintained a low debt-to-equity ratio and has reported positive results for the last four consecutive quarters, contributing to its overall stability and attractiveness to investors.
In the broader market context, while the stock has seen a decline today, it has performed well in the short term, gaining 2.70% over the past week compared to the Sensex's slight decline of 0.36%. This indicates that, despite today's drop, Ipca Labs has been resilient in the face of broader market challenges, as evidenced by its strong year-to-date performance, which contrasts with the negative returns of the benchmark. The high institutional holdings at 46.87% suggest that knowledgeable investors continue to support the stock, which may help mitigate the impact of today's price drop.