Why is India Glycols falling/rising?

As of 02-Sep, India Glycols Ltd's stock price is rising, currently at 827.45, reflecting an increase of 13.85 or 1.7%. The stock has outperformed its sector by 1.61% today and has shown a consecutive gain over the last two days, with a total return of 1.89% during this period. It reached an intraday high of Rs 848.85, marking a rise of 4.33%. Over the past week, the stock has increased by 1.18%, while its year-to-date performance stands at a notable 27.99%, significantly outperforming the Sensex, which has only gained 2.58%. Positive factors contributing to this rise include strong financial results, with the highest recorded ROCE at 11.01% and a significant increase in institutional investor participation, which has risen by 1.67% in the last quarter.
In the broader market context, while the stock has shown resilience with a 22.99% return over the past year, the benchmark BSE500 has declined by 4.82% during the same period. This indicates that India Glycols is not only performing well relative to its peers but also attracting interest from institutional investors, who typically have more resources to evaluate company fundamentals. However, it is important to note that there are concerns regarding the company's long-term fundamental strength, as indicated by a relatively low average ROCE of 8.39% and a high Debt to EBITDA ratio, which could impact future performance. Despite these challenges, the current momentum suggests a positive outlook in the short term.