Why is Strides Pharma falling/rising?

As of 29-Jul, Strides Pharma Science Ltd is experiencing a price increase, currently at 955.10, reflecting a rise of 32.6 points or 3.53%. The stock has recently hit a new 52-week high of Rs. 971.9 and has outperformed its sector by 1.91%. Over the last two days, it has gained 4.81%, and it is trading above all key moving averages, indicating strong momentum. Additionally, the stock has shown impressive returns over various periods, including a 92.36% increase over the past year and a remarkable 500.14% rise over the last three years. The company has consistently reported positive results for the last eight quarters, with significant improvements in operating cash flow and a low debt-equity ratio, contributing to its attractive valuation.
In the broader market context, Strides Pharma's short-term performance stands in stark contrast to the Sensex, which has declined by 1.03% over the past week. This divergence highlights the stock's strength relative to the market, as it has generated a return of 8.79% in the same period. The stock's liquidity is also favorable, with a notable increase in delivery volume, suggesting rising investor interest. Overall, the combination of strong financial performance, positive market sentiment, and outperformance against the benchmark has driven the stock's recent upward movement.