Why is Max Healthcare falling/rising?

As of 03-Jul, Max Healthcare Institute Ltd's stock price is currently at 1,306.60, reflecting an increase of 19.0 points or 1.48%. The stock has recently hit a new 52-week high of Rs.1308.55 and has been on a positive trajectory, gaining for three consecutive days with a total return of 2.47% during this period. Over the past week, the stock has outperformed the Sensex, rising by 3.18% compared to the benchmark's decline of 0.62%. Additionally, Max Healthcare has demonstrated strong long-term growth, with net sales increasing at an annual rate of 29.43% and operating profit at 62.81%. The company benefits from high institutional holdings at 72.32%, indicating confidence from sophisticated investors. However, there is a noted decline in investor participation, with delivery volume dropping significantly by 69.92% against the five-day average.
In the broader market context, while Max Healthcare has shown impressive returns, outperforming the Sensex over various periods—14.51% over the last month and 41.68% over the past year—the overall market has been more stable, with the Sensex gaining only 3.10% in the last month and 4.07% over the past year. This contrast highlights the stock's strong performance relative to the market. Despite the recent drop in delivery volume, the stock remains liquid enough for trading, suggesting that while there may be some short-term fluctuations in participation, the overall sentiment towards Max Healthcare remains positive, bolstered by its strong fundamentals and consistent returns.