Why is UPL falling/rising?

As of 28-Jul, UPL Ltd. is experiencing a price increase, currently at 729.55, which reflects a rise of 6.05 or 0.84%. The stock has recently hit a new 52-week high of Rs. 735.75 and has outperformed its sector by 0.62%. After two consecutive days of decline, the stock has shown a trend reversal, trading above all its moving averages. Over the past week, UPL has gained 2.19%, while its performance over the last month stands at an impressive 13.54%. The company has reported strong financial results, including a significant growth in operating profit and a high return on capital employed, which contribute to its attractive valuation compared to peers. However, there are concerns regarding its high debt to EBITDA ratio, indicating potential risks in servicing debt.
In the broader market context, UPL's performance contrasts sharply with the benchmark, as the Sensex has declined by 1.59% over the past week and 3.77% over the past month. Despite the overall negative market sentiment, UPL has managed to generate a return of 34.10% over the past year, significantly outperforming the BSE500, which has seen negative returns of -2.52%. This strong performance amidst a declining market highlights UPL's resilience and the confidence of institutional investors, who hold a substantial 55.92% stake in the company.