Why is AksharChem (I) falling/rising?

As of 19-Sep, AksharChem (India) Ltd is experiencing a price increase, currently at 273.00, reflecting a rise of 5.0 or 1.87%. Today's performance indicates that the stock has outperformed its sector by 0.79%. The stock is trading above its 5-day, 100-day, and 200-day moving averages, although it remains below the 20-day and 50-day moving averages. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 91.87% compared to the 5-day average. Despite a year-to-date decline of 9.57% and a one-year drop of 18.69%, the company has reported positive financial results over the last three quarters, including a notable increase in profits and sales, which may contribute to the recent upward movement in stock price.
In the broader market context, the stock's short-term return of 0.78% over the past week is slightly lower than the benchmark Sensex's return of 0.88%. While the stock has underperformed the Sensex over the longer term, with a year-to-date decline compared to the benchmark's gain of 5.74%, the attractive valuation metrics, such as a PEG ratio of 0.4 and a discount relative to peers, suggest potential for recovery. The majority ownership by promoters may also instill confidence among investors, further supporting the stock's recent rise.