Why is Poly Medicure falling/rising?

As of 01-Jul, Poly Medicure Ltd's stock price is rising, currently at 2,278.90, reflecting an increase of 51.5 (2.31%). The stock has shown a positive performance today, outperforming its sector by 0.51% and has been on a consecutive gain for the last two days, with a total return of 5.47% during this period. It reached an intraday high of Rs 2,278.90, and the stock's delivery volume has increased significantly, indicating rising investor participation. Additionally, the company has demonstrated strong financial performance, declaring positive results for the last 11 consecutive quarters, including record net sales and profit growth, which has contributed to investor confidence. However, the stock is considered expensive based on its valuation metrics, which may temper some investor enthusiasm.
In the broader market context, Poly Medicure's short-term return of 7.63% over the past week significantly outpaces the Sensex's return of 2.00% during the same period. While the stock has underperformed year-to-date with a decline of 12.35% compared to the Sensex's gain of 7.11%, its strong performance over the last year, with a return of 14.86%, highlights its resilience. The company's substantial market capitalization and high institutional holdings suggest a solid foundation, although its high price-to-book ratio indicates that it is trading at a premium compared to its peers, which could be a concern for some investors.