Why is India Glycols falling/rising?

As of 16-Oct, India Glycols Ltd is experiencing a price increase, currently at 992.85, reflecting a rise of 26.4 or 2.73%. The stock has shown strong performance recently, outperforming its sector by 1.89% today and achieving a consecutive gain over the last two days with a total return of 3.71%. Over the past week, the stock has risen by 7.04%, and it has significantly outperformed the benchmark Sensex, which has only increased by 1.58%. Additionally, the stock is trading above its moving averages across various time frames, indicating a positive trend. Positive financial results, including the highest ROCE and net sales figures, along with increased institutional investor participation, have contributed to the stock's upward movement.
In the broader market context, while the BSE500 index has generated negative returns of -0.82% over the past year, India Glycols has managed to deliver a remarkable 38.83% return, showcasing its resilience and strong market position. The stock's performance over the last month and year-to-date also highlights its ability to outperform the market, with returns of 18.37% and 53.57%, respectively. Despite a recent decline in delivery volume, the overall liquidity remains sufficient for trading, suggesting that investor confidence is still robust. This combination of strong financial performance and favorable market conditions has positioned India Glycols as a strong performer in the current market landscape.