Why is Himadri Special falling/rising?

As of 09-Jul, Himadri Speciality Chemical Ltd is experiencing a price increase, currently at Rs 508.65, reflecting a rise of 15.75 or 3.2%. The stock has shown strong performance today, outperforming its sector by 3.22% and achieving a consecutive gain over the last two days with a total return of 3.68%. It reached an intraday high of Rs 518.5, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a decline in delivery volume by 48.81% compared to the 5-day average, the company has demonstrated a robust ability to service debt, with a low Debt to EBITDA ratio of 1.44 times. Additionally, the company has reported positive results for the last 12 consecutive quarters, with significant growth in net sales and operating profit, which has likely contributed to the stock's upward movement.
In the broader market context, Himadri's short-term return of 2.99% over the past week significantly outpaces the Sensex, which has only increased by 0.15% during the same period. This indicates that the stock is gaining traction relative to the overall market. Furthermore, the increasing participation of institutional investors, who have raised their stake in the company, suggests a positive outlook from more experienced market participants. However, it is worth noting that the stock's valuation is considered expensive with a Price to Book Value of 6.7, which may raise concerns among some investors despite the strong recent performance.