Why is Sai Life falling/rising?

As of 30-Jun, Sai Life Sciences Ltd is experiencing a price increase, currently at Rs 773.50, which reflects a rise of 16.55 or 2.19%. The stock has shown strong performance today, outperforming its sector by 1.5% and achieving a consecutive gain over the last two days with a total return of 3.31%. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the company has demonstrated a robust ability to service debt with a low Debt to EBITDA ratio of 1.25 times and impressive growth in operating profit at an annual rate of 87.31%. However, it is important to note that investor participation has declined, with a significant drop in delivery volume.
In the broader market context, Sai Life's short-term return of 2.85% over the past week outpaces the Sensex's return of 2.09%, suggesting that the stock is performing well relative to the market. Despite this, the stock's year-to-date performance of 2.96% lags behind the Sensex's 7.00% return, indicating that while the stock is currently rising, it has not kept pace with the broader market over a longer period. The high institutional holdings at 25.62% may also contribute to the stock's stability, as these investors typically have better resources to analyze company fundamentals. However, the stock's valuation remains a concern, with a Price to Book Value of 7.4 and a return on equity of 8, suggesting it may be considered expensive despite its recent positive movements.