Why is Pharmaids Pharma falling/rising?

As of 23-Oct, Pharmaids Pharmaceuticals Ltd is experiencing a price increase, with the current price at Rs 49.96, reflecting a rise of Rs 1.35 or 2.78%. Today's performance indicates that the stock outperformed its sector by 2.99%, reaching an intraday high of Rs 50.72, which is a 4.34% increase. The stock has shown a significant rise in investor participation, with delivery volume increasing by 50.1% compared to the 5-day average. However, despite today's positive movement, the stock has seen a decline of 13.85% over the past month and a year-to-date drop of 29.11%. The absence of specific positive or negative factors in the dashboard limits a deeper understanding of the influences on the stock's recent movement.
Broader Market Context: In the short term, Pharmaids Pharmaceuticals Ltd's performance over the past week shows a gain of 1.17%, which is slightly below the Sensex's increase of 1.30%. This indicates that while the stock is currently rising, it has not kept pace with the broader market in the recent week. Over the longer term, the stock has significantly outperformed the benchmark, with a 1-year return of 40.73% compared to the Sensex's 5.59% increase, and an impressive 3-year return of 266.81% against the Sensex's 42.57%. This suggests that while the stock is facing short-term challenges, it has a strong historical performance that may attract investor interest.