Why is Niva Bupa Health falling/rising?

As of 31-Jul, Niva Bupa Health Insurance Company Ltd's stock price is rising, currently at Rs 87.57, reflecting an increase of 2.45 (2.88%). The stock has shown strong performance today, outperforming its sector by 3.42% and achieving a consecutive gain over the last three days, with a total return of 5.39% during this period. It has also traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Despite a decline in delivery volume by 31.33% against the 5-day average, the company boasts strong long-term fundamentals with a remarkable 160.87% CAGR growth in operating profits and a healthy annual net sales growth of 30.60%. However, the recent flat results reported for June 25, including significant losses in profit before tax and profit after tax, may raise concerns about valuation, as indicated by a high price-to-book value of 7.8.
In the broader market context, Niva Bupa's short-term return of +1.12% over the past week contrasts sharply with the Sensex, which has declined by 1.22% during the same period. This relative outperformance suggests that the stock is gaining traction despite broader market challenges. Additionally, the company's year-to-date return of +4.45% also surpasses the Sensex's modest gain of +3.90%, further highlighting its resilience in a fluctuating market environment. The increase in institutional holdings by 7.22% over the previous quarter indicates confidence from larger investors, which could contribute to the stock's upward movement.