Why is Parmax Pharma falling/rising?

As of 24-Jun, Parmax Pharma Ltd's stock price is rising, currently at Rs 41.20, reflecting an increase of Rs 3.18 or 8.36%. The stock has shown strong performance today, outperforming its sector by 8.15% and has gained consecutively for the last two days, resulting in a remarkable 30.79% return over this period. It opened with a significant gain of 11.52% and reached an intraday high of Rs 43, which is a 13.1% increase. Despite a negative long-term fundamental strength indicated by a negative book value and weak operating profits, the company has reported positive results for the last three consecutive quarters, with net sales growing at an impressive 98.75% over the latest six months. Additionally, the stock has generated a return of 39.14% over the past year, significantly outperforming the market's return of 2.98%.
In the broader market context, the stock's short-term return of 8.42% over the past week is notably higher than the Sensex's increase of just 0.58%. This indicates that Parmax Pharma is experiencing a strong upward momentum compared to the overall market. However, it is important to note that while the stock has performed well recently, its year-to-date performance shows a decline of 6.89%, which contrasts with the Sensex's gain of 5.01%. The rising investor participation, evidenced by a significant increase in delivery volume, suggests growing confidence among investors, further contributing to the stock's upward movement despite its underlying financial challenges.