Why is Max Healthcare falling/rising?

As of 26-Jun, Max Healthcare Institute Ltd's stock price is rising, currently at Rs 1,266.35, reflecting an increase of Rs 28.15 or 2.27%. The stock has recently hit a new 52-week and all-time high of Rs 1,274.4, outperforming its sector by 1.5%. Over the past three days, it has gained 6.35%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown strong performance with a year-to-date return of 12.31% and a remarkable 43.82% return over the past year, significantly outperforming the BSE 500 index in each of the last three annual periods. The company benefits from a low debt-to-equity ratio of 0.08, healthy long-term growth in net sales and operating profit, and high institutional holdings at 72.32%, which indicates strong confidence from knowledgeable investors.
In the broader market context, Max Healthcare's short-term return of 8.67% over the past week significantly exceeds the Sensex's return of 2.94% during the same period. This indicates that the stock is not only performing well in isolation but is also gaining traction relative to the overall market. The rising investor participation, with a 21.49% increase in delivery volume, further supports the stock's upward momentum. The liquidity of the stock, sufficient for trades of Rs 4.9 crore, also contributes to its attractiveness among investors. Overall, the combination of strong financial fundamentals, consistent returns, and positive market sentiment is driving the stock's recent rise.