Why is Chemfab Alka. falling/rising?

As of 02-Sep, Chemfab Alkalis Ltd's stock price is currently at Rs 676.50, reflecting an increase of Rs 15.5, or 2.34%. The stock has shown a positive performance today, having outperformed its sector by 2.25% and gaining for the last two consecutive days, resulting in a total return of 3.4% during this period. However, the stock remains 4.66% away from its 52-week low and has a mixed performance over the past month, with a decline of 5.74%. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the company has faced significant challenges, including negative results for the last nine consecutive quarters and a substantial drop in profits over the past year, which may contribute to investor caution.
In the broader market context, Chemfab Alkalis has outperformed the Sensex in the short term, with a 1-week return of +1.12% compared to the Sensex's -0.78%. However, the stock has underperformed over the longer term, with a year-to-date decline of -34.41% against the Sensex's gain of +2.58%. The limited participation from domestic mutual funds, holding only 0.25% of the company, suggests a lack of confidence in the stock's valuation, which is considered expensive relative to its peers. Overall, while there are some positive movements in the stock price recently, the underlying financial challenges and market sentiment indicate a cautious outlook.