Why is India Pesticides falling/rising?

As of 20-Jun, India Pesticides Ltd's stock price is rising, currently at Rs 208.55, reflecting an increase of Rs 15.25 or 7.89%. The stock has shown a trend reversal, gaining after four consecutive days of decline, and has outperformed its sector by 7.7%. It reached an intraday high of Rs 214.2, indicating strong buying interest. Over the past month, the stock has appreciated by 23.77%, although it has underperformed the benchmark Sensex over the past week with a slight decline of 0.22%. Positive financial results, including a 36.99% growth in net sales and a 39.3% increase in profit after tax, contribute to the stock's upward movement. Additionally, the company maintains a low debt-to-equity ratio and is trading at a discount compared to its peers, which may attract investors despite its recent underperformance over the past year.
In the broader market context, while India Pesticides has shown a positive return of 23.77% over the last month, the benchmark Sensex has only increased by 1.50% during the same period. This indicates that the stock is gaining traction relative to the market. However, it is important to note that the stock has consistently underperformed against the benchmark over the last three years, generating a return of -13.18% in the past year. The lack of investment from domestic mutual funds, which hold 0% of the company, may suggest caution among institutional investors regarding its long-term growth potential, especially given the negative trend in operating profit over the last five years.