Why is Balaji Amines falling/rising?

As of 17-Jul, Balaji Amines Ltd is experiencing a price increase, currently at 1,795.00, with a change of 7.65 (0.43%) upwards. The stock has shown a positive trend recently, gaining for the last three days with a total return of 2.22% during this period. It opened with a notable gain of 3.5% today and reached an intraday high of Rs 1849.95. However, despite these short-term gains, the stock has underperformed over the past week with a decline of 4.40% compared to the Sensex's drop of only 1.12%. Additionally, the stock's long-term performance remains concerning, with a 23.46% decrease over the past year and a significant underperformance against the benchmark over the last three years. The recent increase in promoter confidence, as they have raised their stake by 0.92%, suggests a belief in the company's future potential, but this is contrasted by the company's negative results over the last four quarters and poor long-term growth metrics.
In the broader market context, while Balaji Amines has shown a positive return of 25.64% over the past month, the Sensex has only increased by 0.83% in the same timeframe, indicating that the stock is outperforming the benchmark in the short term. However, the stock's performance is still overshadowed by its long-term struggles, including a low return on capital employed and declining profits. The falling investor participation, with a significant drop in delivery volume, raises concerns about the sustainability of the recent price movements. Overall, while there are some positive indicators such as promoter confidence, the stock's long-term challenges and recent underperformance against broader market indices suggest a cautious outlook.