Why is Medi Assist Ser. falling/rising?

As of 08-Jul, Medi Assist Healthcare Services Ltd is experiencing a price increase, currently at Rs 552.10, reflecting a rise of Rs 25.35 or 4.81%. Today's price summary indicates that the stock has outperformed its sector by 5.04% and has gained after two consecutive days of decline. The stock opened lower today, with a gap down of 2.74%, but reached an intraday high of Rs 571, showcasing volatility with a wide trading range of Rs 58.7. Despite the positive movement, there is a notable decline in investor participation, with delivery volume dropping by 85.58% compared to the five-day average. The company has strong long-term fundamentals, evidenced by a solid average Return on Equity (ROE) of 16.79% and high institutional holdings at 56.17%, which may support the stock's upward momentum.
In the broader market context, Medi Assist's short-term performance over the past week shows a return of 4.54%, significantly outperforming the Sensex, which only increased by 0.02%. However, the stock has underperformed year-to-date with a decline of 4.81% compared to the Sensex's gain of 7.13%. While the stock's recent price increase may be attributed to its strong fundamentals and institutional backing, concerns remain regarding its high valuation and declining profits, as indicated by a PAT drop of 9.1% and a high PEG ratio of 16. These factors suggest that while the stock is currently rising, there are underlying issues that could affect its sustainability in the longer term.