Why is Himadri Special falling/rising?

As of 27-Jun, Himadri Speciality Chemical Ltd is experiencing a significant rise in its stock price, currently at 504.95, reflecting an increase of 55.25 or 12.29%. Today's price performance indicates that the stock has outperformed its sector by 11.37%, reaching an intraday high of Rs 528.15. Despite a wide trading range of Rs 78.65, the stock has shown strong returns over the past week and year, with increases of 14.83% and 29.64%, respectively. The company has demonstrated a strong ability to service debt, evidenced by a low Debt to EBITDA ratio of 1.44 times, and has consistently reported positive results for the last 12 quarters, contributing to investor confidence. However, there has been a decline in investor participation, with delivery volume falling by 36.5% against the 5-day average.
In the broader market context, the stock's short-term performance of +14.83% over the past week significantly outpaces the Sensex, which has only increased by 2.00% during the same period. While the stock has shown strong returns over the last year, it is important to note that its year-to-date performance is down by 13.68%, contrasting with the Sensex's gain of 7.58%. Institutional investors have increased their stake, indicating growing confidence in the company's fundamentals. However, the stock's high valuation, reflected in a Price to Book Value of 6.7, raises concerns about its long-term sustainability, especially given the company's PEG ratio of 1.4.