Why is Piramal Pharma falling/rising?

As of 19-Sep, Piramal Pharma Ltd's stock price is currently at Rs 208.30, reflecting an increase of Rs 5.0 or 2.46%. The stock has been gaining for the last two days, with a total return of 2.54% during this period. It has outperformed its sector by 2.19% today and reached an intraday high of Rs 209.45. However, despite these positive movements, the stock has a year-to-date decline of 21.63% and a one-year return of -7.69%. The company has a high Debt to EBITDA ratio of 3.21 times, indicating a low ability to service debt, and its recent PAT has fallen significantly, which may contribute to investor caution despite healthy long-term growth in operating profit.
In the broader market context, Piramal Pharma's short-term performance of +3.84% over the past week significantly outpaces the Sensex's gain of +0.88%. However, the stock's year-to-date performance is notably poor compared to the Sensex's +5.74%, highlighting a divergence in performance. The stock's liquidity is adequate for trading, but a notable drop in delivery volume suggests a decrease in investor participation. While high institutional holdings at 45.12% may provide some confidence, the overall financial metrics, including low profitability and high debt levels, could be weighing on the stock's potential for recovery in the near term.