Why is AksharChem (I) falling/rising?

As of 24-Jun, AksharChem (India) Ltd's stock price is currently at Rs 252.00, reflecting an increase of Rs 1.5 or 0.6%. Today, the stock opened with a significant gain of 4.57%, reaching an intraday high of Rs 261.95. Despite this positive movement, the stock has shown a decline of 5.05% over the past month and a substantial drop of 16.53% year-to-date. The company's recent financial performance has been strong, with record net sales and profit after tax reported for the quarter ending March 25, alongside a low debt-to-equity ratio, which suggests a solid financial foundation. However, the stock's delivery volume has decreased significantly, indicating falling investor participation, which may temper the positive price movement.
In the broader market context, AksharChem's short-term performance has outpaced the Sensex, which has increased by 0.58% over the same week, while AksharChem has risen by 1.20%. This suggests that the stock is performing relatively well compared to the market. However, the stock's longer-term performance remains concerning, with a decline of 21.06% over the past year, contrasting sharply with the Sensex's gain of 6.10%. The company's attractive valuation metrics, such as a PEG ratio of 0.3 and a significant increase in profits despite the stock's decline, indicate potential for recovery, but the current market sentiment and reduced trading volume may be hindering a more robust upward trend.