Why is Parmax Pharma falling/rising?

As of 23-Oct, Parmax Pharma Ltd's stock price is currently at 34.75, reflecting a significant increase of 5.01, or 16.85%. The stock has shown a positive trend today, outperforming its sector by 17.06% and reversing a two-day decline. It opened with a gain of 6.93% and reached an intraday high of Rs 35.6, indicating strong buying interest. Additionally, the stock has experienced a notable rise in investor participation, with delivery volume increasing by 223.36% compared to the five-day average. However, it is important to note that the stock's year-to-date performance remains negative at -21.47%, contrasting sharply with the Sensex's positive return of +8.21%.
In the broader market context, Parmax Pharma's short-term performance over the past week shows a gain of 2.66%, which is significantly higher than the Sensex's increase of 1.30%. This indicates that while the stock has been underperforming over the longer term, it is currently experiencing a rebound relative to the benchmark. The high volatility observed today, with an intraday fluctuation of 8.11%, suggests that market participants are actively trading the stock, likely driven by the recent positive momentum and increased liquidity.