Why is Balaji Amines falling/rising?

As of 31-Jul, Balaji Amines Ltd's stock price is rising, currently at Rs 1,769.70, reflecting an increase of Rs 49.7 or 2.89%. Today's price summary indicates that the stock outperformed its sector by 3.95%, reaching an intraday high of Rs 1,811, which is a 5.29% increase, although it also touched a low of Rs 1,672.25, a decrease of 2.78%. Over the past week, the stock has shown a modest gain of 1.89%, while its performance over the last month has been slightly negative at -3.02%. Despite a long-term decline of -29.20% over the past year, the stock's recent upward movement may be attributed to rising investor participation, as evidenced by a significant increase in delivery volume.
In the broader market context, Balaji Amines' short-term performance contrasts with the benchmark Sensex, which has declined by 1.22% over the past week. While the stock has shown some resilience in the short term, it has consistently underperformed against the benchmark over the last three years, with a significant decline in returns compared to the Sensex. The company's financial health is concerning, with negative results reported for the last four consecutive quarters and a low return on capital employed (ROCE) of 11.69%. Despite a low debt-to-equity ratio, the stock's valuation appears expensive relative to its peers, which may deter long-term investors.