Why is Novartis India falling/rising?

As of 13-Aug, Novartis India Ltd's stock price is rising, currently at 952.00, reflecting an increase of 12.85 (1.37%). The stock has been gaining for the last three days, with a total return of 3.28% during this period. It is performing in line with its sector and is above its 5-day, 100-day, and 200-day moving averages, although it remains below the 20-day and 50-day moving averages. The company has demonstrated healthy long-term growth, with an operating profit growth rate of 61.43% and positive results over the last three consecutive quarters, including a significant increase in profit after tax. However, it is trading at a premium compared to its peers, which may raise concerns about its valuation.
In the broader market context, Novartis India has outperformed the benchmark Sensex over the past week, gaining 2.35% while the index remained flat at -0.01%. Despite this short-term outperformance, the stock has underperformed over the last month and year, with declines of 10.74% and 14.58%, respectively, compared to the Sensex's losses of 2.38% and gains of 2.01%. The low domestic mutual fund ownership suggests a lack of confidence among institutional investors, which could be a factor in the stock's overall performance.