Why is Poly Medicure falling/rising?

As of 29-Oct, Poly Medicure Ltd's stock price is rising, currently at Rs 1,970.85, reflecting an increase of Rs 64.85 or 3.4%. The stock has shown positive momentum, gaining 3.63% over the last two days and outperforming its sector by 0.5%. Despite a year-to-date decline of 24.20%, the stock has outperformed the benchmark Sensex over the past week and month, with returns of 1.84% and 1.88%, respectively. The company benefits from a low debt-to-equity ratio and high institutional holdings at 23.31%, indicating strong investor confidence. However, it faces challenges with flat results in June and a high Price to Book Value ratio, which may contribute to its valuation concerns.
Broader market context shows that while Poly Medicure has outperformed the sector recently, it has significantly underperformed the broader market over the past year, with a return of -23.25% compared to the BSE500's 4.67%. The medical equipment sector has gained 3.01%, reflecting positive sentiment in the industry, which may be supporting Poly Medicure's recent price increase. However, the stock's liquidity has decreased, with a notable drop in delivery volume, suggesting that investor participation is waning, which could impact future price movements.