Why is Fineotex Chem falling/rising?

As of 13-Aug, Fineotex Chemical Ltd's stock price is currently at Rs 236.70, reflecting an increase of Rs 8.75 or 3.84%. Today's price summary indicates that the stock has outperformed its sector by 1.86% and has gained after three consecutive days of decline, reaching an intraday high of Rs 238.3. However, despite this short-term rise, the stock has shown a significant decline over the past month, down 12.67%, and a year-to-date drop of 28.54%. The company has reported negative results for the last three quarters, with a decrease in profit before tax and profit after tax compared to previous averages, contributing to a perception of an expensive valuation with a high Price to Book Value ratio. Additionally, there has been a decrease in institutional investor participation, which may indicate a lack of confidence in the stock's future performance.
In the broader market context, Fineotex Chemical Ltd's recent performance contrasts with the benchmark, as it has underperformed the Sensex over the past week, month, and year, with returns of -0.42% over the last week compared to a negligible change in the Sensex. The chemicals sector has gained by 2.06%, highlighting that the stock's rise today may be more of a short-term correction rather than a sign of a sustained recovery, especially given its consistent underperformance against the benchmark over the last three years. The overall market sentiment appears cautious, particularly due to the company's declining profits and the reduction in institutional stakes, which could weigh on future price movements.