Why is UPL falling/rising?

As of 21-Jul, UPL Ltd. is experiencing a price increase, with its current price at Rs. 713.90, reflecting a rise of Rs. 26.5 or 3.86%. The stock has reached a new 52-week high of Rs. 717.4 today and has outperformed its sector by 2.42%. Over the past week, UPL has shown a return of +8.08%, and for the month, it has increased by +12.67%. The company has reported very positive results, including a significant growth in operating profit of 67.07% and a remarkable increase in profits by 231.4% over the past year. Additionally, high institutional holdings at 55.77% indicate strong investor confidence, which may be contributing to the upward price movement. However, there are concerns regarding the company's high Debt to EBITDA ratio of 2.67 times, which suggests a low ability to service debt, potentially impacting long-term growth.
In the broader market context, UPL's recent performance stands in stark contrast to the benchmark, as the Sensex has shown a slight decline of -0.06% over the past week. While UPL has generated a return of 31.51% over the last year, the market has only returned 1.98% during the same period, highlighting UPL's strong market-beating performance. This disparity in returns may attract more investors to UPL, further driving its price upward. Overall, the combination of strong financial results, positive investor sentiment, and a significant outperformance relative to the benchmark supports the stock's rising price.