Why is C P C L falling/rising?

As of 23-Jun, Chennai Petroleum Corporation Ltd's stock price is rising, currently at 704.00, reflecting an increase of 71.35 or 11.28%. The stock has outperformed its sector by 11.54% today and has experienced consecutive gains over the last two days, with a total return of 15.67% during this period. It reached an intraday high of Rs 707.5, and the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 54.49% compared to the 5-day average. Despite a significant decline of 27.38% over the past year, the stock's high dividend yield of 8.69% and attractive valuation metrics, such as a high return on capital employed (ROCE) of 23.43%, contribute positively to its recent price movement.
In the broader market context, the stock's short-term performance has significantly outpaced the benchmark Sensex, which only increased by 0.12% over the past week. While the stock has shown a year-to-date return of 12.35%, the Sensex has only gained 4.81% in the same period. This strong relative performance indicates that investor sentiment towards Chennai Petroleum Corporation Ltd is improving, particularly in light of its healthy long-term growth prospects and management efficiency. However, it is essential to note that the stock's profits have fallen by 92.2% over the past year, which may temper enthusiasm among some investors despite the current upward price movement.