Why is Bodal Chemicals falling/rising?

As of 10-Jul, Bodal Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 76.54, reflecting a decrease of Rs 2.16 or 2.74%. Today's performance indicates that the stock has underperformed its sector by 3.61%, with an intraday low of Rs 76.4. Despite this decline, the stock has shown positive returns over the past week (+1.07%) and month (+3.35%), although it has a negative return of -3.76% over the past year. The company has reported strong financial results, including a significant growth in net profit of 167.53% and a positive trend in net sales, which has contributed to its attractive valuation relative to peers. The stock is also trading above its moving averages, indicating some underlying strength despite the current price drop.
In the broader market context, the Sensex has remained relatively flat with a slight decrease of 0.06% over the past week, while Bodal Chemicals has outperformed the benchmark in the same period. However, the stock's year-to-date return of +13.28% contrasts with its one-year performance, which is negative, suggesting volatility in investor sentiment. The increase in delivery volume by 22.03% against the five-day average indicates rising investor participation, which could provide some support for the stock. Overall, while Bodal Chemicals has shown strong financial performance and positive short-term trends, the current price decline may reflect broader market conditions or investor reactions to recent performance metrics.