Why is Par Drugs & Che. falling/rising?

As of 17-Sep, Par Drugs & Chemicals Ltd is experiencing a price increase, with the current price at 116.60, reflecting a change of 5.55 or 5.0% upward. The stock has outperformed its sector by 4.01% today and is trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below its 200-day moving average. Despite a significant decline of 51.84% over the past year, the stock has shown a positive return of 17.66% over the last month, indicating a potential recovery phase. The company maintains a low debt-to-equity ratio and a favorable return on equity of 14.6, suggesting an attractive valuation relative to its peers, which may contribute to the recent price rise.
In the broader market context, the stock's short-term performance of 2.73% over the past week surpasses the Sensex's return of 1.43%, indicating a stronger relative performance. However, the company has faced challenges, including negative results for the last three consecutive quarters and a consistent underperformance against benchmarks over the past three years. While the stock's recent upward movement may reflect short-term optimism, the long-term growth prospects remain concerning due to stagnant sales growth and declining profits, which could temper investor enthusiasm moving forward.