Why is I G Petrochems falling/rising?

As of 19-Sep, I G Petrochemicals Ltd is experiencing a price increase, currently at Rs 439.45, reflecting a rise of Rs 5.75 or 1.33%. The stock has outperformed its sector today by 1.66%, reaching an intraday high of Rs 448, which is a 3.3% increase. Over the past week, the stock has shown a return of +2.17%, and over the past month, it has increased by +4.00%. However, despite these short-term gains, the stock has a year-to-date decline of -21.25% and a one-year return of -29.66%. The company has a low debt-to-equity ratio of 0.03, and while it has an attractive valuation with a PEG ratio of 0.4, it has also reported a significant drop in net sales and profits, which could be contributing to investor caution.
In the broader market context, I G Petrochemicals Ltd's recent performance has outpaced the Sensex, which has only risen by +0.88% over the past week and +1.20% over the past month. However, the stock has consistently underperformed against the benchmark over the last three years, with a notable decline of -29.66% in the past year compared to a slight decrease of -0.67% for the Sensex. The lack of domestic mutual fund investment, holding only 0% of the company, may indicate a lack of confidence in the stock's long-term growth potential, further complicating its market position despite recent price movements.