Why is Chemcon Special. falling/rising?

As of 23-Sep, Chemcon Speciality Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 254.25, which reflects a decrease of Rs 5.4 or 2.08%. Today's performance indicates that the stock has underperformed its sector by 1.52%, with an intraday low of Rs 249.35, marking a drop of 3.97%. Despite this decline, the stock has shown positive returns over the past week and month, with increases of 7.32% and 11.86%, respectively. The company maintains a low Debt to Equity ratio, which is favorable, suggesting financial stability, but this may not be sufficient to counteract the recent price drop.
In the broader market context, Chemcon's short-term performance has outpaced the Sensex, which has seen a slight decline of 0.34% over the past week. However, the stock's year-to-date performance of 12.30% is significantly better than the Sensex's 5.07%, indicating strong relative strength. The rising investor participation, evidenced by a substantial increase in delivery volume, suggests that there is interest in the stock despite its current price decline. Overall, while Chemcon has shown resilience in the longer term, recent price movements reflect a combination of sector underperformance and market sentiment that may be affecting investor confidence.