Why is C P C L falling/rising?

As of 03-Jul, Chennai Petroleum Corporation Ltd's stock price is currently at 712.30, reflecting an increase of 12.0 or 1.71%. The stock has shown strong performance recently, gaining 4.81% over the last three days and outperforming its sector by 1.51% today. It reached an intraday high of Rs 734.2, and it is trading above all key moving averages, indicating positive momentum. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 98.36% compared to the five-day average. Despite a challenging year with a return of -26.81%, the company maintains a high dividend yield of 7.7%, which, along with its attractive valuation metrics, suggests potential for recovery.
In the broader market context, the stock has outperformed the Sensex in the short term, with a one-week return of +6.26% compared to the benchmark's -0.62%. While the stock has struggled over the past year, it has demonstrated strong long-term growth potential, with a three-year return of +139.67%. However, concerns remain due to a significant drop in profits and a low return on capital employed in recent periods. Overall, the combination of positive short-term performance, high dividend yield, and attractive valuation appears to be driving the recent rise in the stock price, despite the backdrop of past underperformance.