Why is Himadri Special falling/rising?

As of 12-Sep, Himadri Speciality Chemical Ltd's stock price is currently at 469.05, reflecting a decrease of 4.95, or 1.04%. The stock has underperformed its sector by 1.92% today and has experienced a trend reversal after two consecutive days of gains. The weighted average price indicates that more volume was traded closer to the low price, and there has been a decline in investor participation, with delivery volume falling by 6.58% against the five-day average. Over the past week, the stock has shown a modest gain of 2.48%, but it has underperformed over the last month with a slight decline of 0.11%. Notably, the stock has a significant year-to-date decline of 19.81% compared to a 4.82% increase in the benchmark index.
In the broader market context, while the stock has shown strong long-term growth with an annual operating profit increase of 49.78% and a low Debt to EBITDA ratio of 1.44, it has still faced challenges. The company has consistently reported positive results for the last 13 quarters, yet its return on equity of 14.9 indicates a very expensive valuation with a Price to Book Value of 6.2. Despite its profits rising by 37.4% over the past year, the stock's return of -16.63% significantly underperformed the broader market, which saw a decline of only 3.45%. This combination of high valuation concerns and underperformance relative to the market has contributed to the stock's recent price decline.