Why is India Glycols falling/rising?

As of 15-Sep, India Glycols Ltd's stock price is currently at 840.80, reflecting a slight increase of 0.8 (0.1%). The stock has been gaining over the last two days, with a total return of 1.04% during this period. However, it has underperformed its sector by 0.48%. In terms of longer-term performance, the stock has shown impressive returns, with a 30.05% increase year-to-date and a 35.88% rise over the past year, significantly outperforming the broader market, which has seen negative returns. Positive factors contributing to this upward movement include strong financial results, such as the highest recorded ROCE of 11.01% and a significant increase in institutional investor participation, which has risen by 1.67% in the last quarter. However, concerns about long-term fundamental strength, including a high Debt to EBITDA ratio and average ROCE, may temper investor enthusiasm.
In the broader market context, India Glycols has outperformed the benchmark Sensex, which has only increased by 1.24% over the past week and 4.67% year-to-date. The stock's performance is particularly notable given that the BSE500 index has generated negative returns of -3.45% in the last year, highlighting India Glycols' ability to deliver substantial returns despite a challenging market environment. This strong relative performance may attract further interest from investors looking for resilient stocks, although the recent decline in delivery volume suggests some caution among retail investors.