Why is Sai Life falling/rising?

As of 04-Jul, Sai Life Sciences Ltd is currently priced at 791.90, reflecting an increase of 3.0, or 0.38%. The stock has shown strong performance in the short term, with a 4.62% gain over the past week and a 9.06% increase over the past month, while year-to-date it has risen by 5.41%. Today's price summary indicates that Sai Life is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 16.46% compared to the 5-day average. The company benefits from a strong ability to service debt, evidenced by a low Debt to EBITDA ratio of 1.25 times, and impressive growth in operating profit at an annual rate of 87.31%. Additionally, high institutional holdings at 25.62% indicate confidence from more sophisticated investors, as their stake has increased by 1.95% over the previous quarter.
In the broader market context, while Sai Life's short-term returns have outperformed the Sensex, which has declined by 0.74% over the past week, the stock's performance is noteworthy against the backdrop of a generally positive market trend, with the Sensex up 3.01% over the past month. Despite the stock's recent rise, concerns about its valuation persist, as indicated by a high Price to Book Value of 7.6 and a relatively low return on equity of 8. This suggests that while the stock is currently performing well, there are underlying factors that may warrant caution for potential investors.