Why is Parmax Pharma falling/rising?

As of 08-Aug, Parmax Pharma Ltd's stock price is currently at 38.97, reflecting an increase of 3.57 or 10.08%. Today, the stock opened with a significant gain of 12.4%, reaching an intraday high of Rs 39.8. Despite this positive movement, the stock has shown high volatility with an intraday volatility of 5.71% and has traded in a wide range of Rs 4.3. Over the past week, the stock has outperformed its sector by 11.24%, although it has experienced a decline of 7.21% over the past month and a year-to-date drop of 11.93%. Notably, there has been a decrease in investor participation, with delivery volume falling by 26.46% against the 5-day average, indicating a potential concern for sustained upward momentum.
In the broader market context, while Parmax Pharma's stock has risen by 9.13% over the past week, the benchmark Sensex has declined by 0.92%, highlighting a strong relative performance. However, the stock's year-to-date performance is notably weaker compared to the Sensex, which has gained 2.20% during the same period. This contrast suggests that while the stock is experiencing a short-term rally, its longer-term performance remains under pressure compared to the overall market. The lack of positive factors in the dashboard may also indicate that the recent price increase could be driven more by short-term trading dynamics rather than fundamental improvements in the company's outlook.