Why is AksharChem (I) falling/rising?

As of 23-Oct, AksharChem (India) Ltd is experiencing a significant rise in its stock price, currently at Rs 282.25, reflecting an increase of Rs 22.95 or 8.85%. The stock has outperformed its sector by 9.4% today, opening with a gain of 2.2% and reaching an intraday high of Rs 285, which is a 9.91% increase. Despite this positive movement, there are concerns regarding erratic trading, as the stock did not trade on one day out of the last 20 days, and there has been a notable decline in investor participation, with delivery volume falling by 88.48% against the 5-day average. Furthermore, while the stock is trading above its moving averages, the year-to-date performance shows a decline of 6.51%, indicating some underlying weakness despite the recent gains.
Broader Market Context: In the short term, AksharChem has shown a return of 5.93% over the past week, significantly outperforming the Sensex, which only increased by 1.30%. Over the past month, the stock has also outperformed the benchmark with a return of 6.73% compared to the Sensex's 2.99%. However, the stock's longer-term performance remains concerning, with declines over the year and three years, contrasting sharply with the Sensex's gains. This divergence suggests that while the stock is currently experiencing a positive momentum, broader market trends and historical performance may still pose challenges for sustained growth.