Why is Himadri Special falling/rising?

As of 24-Sep, Himadri Speciality Chemical Ltd is experiencing a price increase, currently at 467.95, which reflects a rise of 16.3 or 3.61%. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, outperforming its sector by 4.1%. The stock reached an intraday high of Rs 488, marking an 8.05% increase. However, it is important to note that the stock has underperformed in the longer term, with a year-to-date decline of 20.00% and a one-year return of -27.67%. Despite these challenges, the company has demonstrated strong financial health, with a low Debt to EBITDA ratio of 1.44 times and consistent positive results over the last 13 quarters, contributing to a healthy long-term growth outlook.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has remained flat over the past week while the Sensex has declined by 1.18%. The stock's performance over the past year has been significantly worse than the market, which saw a negative return of only -3.77%. This disparity highlights the stock's struggles despite its strong operational metrics, such as a 49.78% annual growth in operating profit and a high return on capital employed (ROCE) of 21.09%. The stock's valuation remains a concern, as it is considered expensive with a Price to Book Value of 6.2, and while profits have increased, the stock's substantial decline in value suggests that investor sentiment remains cautious.