Why is India Pesticides falling/rising?

As of 20-Aug, India Pesticides Ltd is experiencing a price increase, currently at Rs 217.30, reflecting a rise of Rs 6.4 or 3.03%. The stock has shown strong performance today, outperforming its sector by 2.29% and achieving a consecutive gain over the last three days with a total return of 5.31%. Additionally, the stock's year-to-date return stands at an impressive 19.96%, significantly outpacing the Sensex's 4.76% during the same period. The company has reported positive financial results, including a 60.36% growth in net profit and record net sales, which contribute to its favorable valuation and attractiveness to investors. However, there is a noted decline in investor participation, with delivery volume dropping by 50.92% compared to the five-day average.
In the broader market context, while India Pesticides Ltd has shown a positive return of 1.09% over the past week, it has underperformed the Sensex, which gained 1.64% in the same timeframe. Despite this, the stock's overall performance remains strong, particularly in light of the increasing participation from institutional investors, who have raised their stake in the company. This suggests a growing confidence in the company's fundamentals, which may help sustain the stock's upward momentum despite the recent decline in trading volume.