Why is Jagsonpal Pharma falling/rising?

As of 03-Nov, Jagsonpal Pharmaceuticals Ltd is experiencing a price increase, currently at Rs 227.00, which reflects a rise of 4.3 (1.93%). The stock has shown positive momentum, gaining 3.06% over the last two days and outperforming its sector by 0.63% today. It opened with a gain of 3.28% and reached an intraday high of Rs 230. The stock's performance over the past week has been strong, with a return of +5.24%, although it has underperformed the benchmark Sensex over the past month and year-to-date. The company has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 42.31%, and it has reported positive results for the last five consecutive quarters, contributing to investor confidence.
In the broader market context, while the stock has outperformed the Sensex in the short term, it has lagged behind in longer periods, such as year-to-date returns where it is down 7.14% compared to the Sensex's gain of 7.47%. Despite a low debt-to-equity ratio and strong growth metrics, the stock is considered expensive with a high price-to-book value of 6.3, which may deter some investors. Additionally, the lack of domestic mutual fund investment could indicate a cautious sentiment regarding the stock's valuation or business prospects. Overall, while recent performance has been positive, the stock's valuation concerns and limited institutional support may temper its upward momentum in the broader market.