Why is Solara Active falling/rising?

As of 01-Sep, Solara Active Pharma Sciences Ltd is experiencing a price increase, currently at 639.95, reflecting a rise of 20.95 or 3.38%. The stock has shown positive momentum, gaining for three consecutive days with a total return of 5.4% during this period. It reached an intraday high of Rs 641, although it also saw a low of Rs 604.3 earlier in the day. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Despite this positive movement, there has been a notable decline in investor participation, with delivery volume dropping by 57.8% compared to the 5-day average. The company has reported very positive results, including a 16.9% growth in net sales and consistent profitability over the last four quarters, contributing to a favorable valuation compared to peers.
In the broader market context, Solara's short-term performance has outpaced the benchmark, with a 1-week return of +2.45% compared to the Sensex's -1.56%. This suggests that while the overall market may be facing challenges, Solara is managing to attract investor interest and deliver positive returns. However, it is important to note that the stock has underperformed over the longer term, with a year-to-date return of -5.33% against the Sensex's +2.85%. The company's strong financial metrics, including a significant increase in profits and an attractive PEG ratio of 0.9, indicate potential for future growth, which may be driving the current rise in stock price despite its historical underperformance.