Why is Strides Pharma falling/rising?

As of 30-Jul, Strides Pharma Science Ltd is experiencing a decline in its stock price, currently at Rs 947.35, which reflects a decrease of Rs 7.75 or 0.81%. Today's price summary indicates that the stock has underperformed its sector by 1.15% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 923.75, representing a drop of 3.28%. Despite this, Strides Pharma has shown strong performance over the past year with an 85.48% return, although its profits have decreased by 19.9%. The company has consistently reported positive results for the last eight quarters, with strong operating cash flow and a low debt-equity ratio, suggesting a solid financial position despite the recent price drop.
In the broader market context, Strides Pharma's short-term performance contrasts positively with the benchmark, as it has gained 3.32% over the past week while the Sensex has declined by 1.50%. This indicates that the stock is relatively resilient compared to the overall market. However, the stock's recent decline may be attributed to profit-taking after a strong upward trend, as evidenced by the significant increase in delivery volume, which rose by 218.66% against the five-day average. The stock remains liquid enough for trading, indicating ongoing investor interest, but the recent price movement suggests caution among investors in light of the profit decline.