Why is I G Petrochems falling/rising?

As of 15-Sep, I G Petrochemicals Ltd is experiencing a price increase, currently at 437.85, reflecting a rise of 7.75 or 1.8%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 1.22% today. Despite this positive movement, the stock is trading below all its moving averages, indicating a potential struggle to maintain upward momentum. Over the past year, the stock has generated a return of -32.53%, although it has seen a significant profit increase of 56%, resulting in a PEG ratio of 0.4. The company's low debt-to-equity ratio of 0.03 times suggests financial stability, but its recent negative quarterly results, including a significant drop in net sales and operating profit, raise concerns about its long-term growth prospects.
In the broader market context, the stock's short-term performance has been weaker than the benchmark, with a 1-week return of -0.94% compared to the Sensex's +1.24%. This consistent underperformance against the benchmark over the last three years, coupled with a lack of domestic mutual fund investment, indicates a lack of confidence among institutional investors. While the stock has shown some positive movement today, the overall trend remains concerning, particularly given its historical underperformance and the recent negative financial results.