Why is AksharChem (I) falling/rising?

As of 18-Sep, AksharChem (India) Ltd is experiencing a decline in its stock price, currently at Rs 268.00, reflecting a decrease of Rs 6.9 or 2.51%. The stock has underperformed its sector by 2.28% today, reaching an intraday low of Rs 265.45, which is a drop of 3.44%. Over the past week, the stock has seen a return of -1.83%, and it has also underperformed the benchmark Sensex, which has gained 1.80% in the same period. Despite positive financial results over the last three quarters, including a significant increase in profits and sales, the stock's year-to-date performance shows a decline of 11.23%, indicating ongoing challenges in market perception.
Broader Market Context: In the context of the broader market, AksharChem's recent performance contrasts sharply with the Sensex, which has risen by 6.24% year-to-date. The stock's negative returns over various periods, including a 21.12% drop over the past year, highlight a significant lag behind the benchmark's stability. While the company has shown strong financial metrics, such as a rising profit after tax and attractive valuation ratios, the overall market sentiment and the stock's recent underperformance suggest that investors may be cautious, leading to the current decline in its price.