Why is Strides Pharma falling/rising?

As of 11-Jun, Strides Pharma Science Ltd is experiencing a significant rise in its stock price, currently at Rs. 868.75, reflecting an increase of Rs. 48.45 or 5.91%. The stock has recently hit a new 52-week high of Rs. 874.7 and has outperformed its sector by 5.05%. Over the last four days, the stock has gained 10.29%, and it is trading above all key moving averages, indicating a strong bullish trend. The company has reported a remarkable growth in net profit of 81.62% and has delivered positive results for seven consecutive quarters, contributing to investor confidence. Additionally, the stock's attractive valuation, with a low PEG ratio of 0.1 and a high return on capital employed (ROCE) of 15.48%, further supports its upward movement.
In the broader market context, Strides Pharma's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 1.87% over the past week, while Strides Pharma has risen by 9.75% in the same period. This outperformance is indicative of strong investor interest and confidence in the company, particularly given its consistent returns over the past three years and its ability to outperform the BSE 500 in each of the last three annual periods. The rising investor participation, as evidenced by a 121.48% increase in delivery volume, also suggests a robust demand for the stock, reinforcing its positive momentum in the market.