Why is Sai Life falling/rising?

As of 01-Jul, Sai Life Sciences Ltd is experiencing a price increase, currently at Rs 779.60, reflecting a rise of 6.1 points or 0.79%. The stock has shown strong performance recently, gaining 4.12% over the last three days and outperforming its sector by 1% today. 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 robust financial health, with a low Debt to EBITDA ratio of 1.25 times and significant growth in operating profit at an annual rate of 87.31%. However, despite these positive indicators, there is a noted decline in investor participation, with a 39.76% drop in delivery volume compared to the 5-day average.
In the broader market context, Sai Life's 1-week return of 4.78% significantly outpaces the Sensex's return of 2.00%, indicating strong relative performance. However, the year-to-date return of 3.77% for Sai Life is lagging behind the Sensex's 7.11%, suggesting that while the stock is currently rising, its overall performance this year has not matched the benchmark. The high institutional ownership at 25.62% may provide some stability, as these investors tend to have better resources for analyzing the company's fundamentals. Nonetheless, the stock's valuation appears expensive with a Price to Book Value of 7.5, which could be a concern for some investors despite the recent positive price movement.