Why is Indo Borax & Ch. falling/rising?

As of 19-Sep, Indo Borax & Chemicals Ltd's stock price is currently at Rs 244.90, reflecting an increase of Rs 6.65 or 2.79%. Today's price summary indicates that the stock has outperformed its sector by 3.12% and has experienced a trend reversal, gaining after two consecutive days of decline. The stock reached an intraday high of Rs 246, although it is trading below its 20-day and 50-day moving averages. Despite this positive movement, there has been a significant drop in investor participation, with delivery volume falling by 68.78% compared to the 5-day average. Over the past year, the stock has generated a return of 3.99%, and it has consistently outperformed the BSE500 over the last three years, which may contribute to its current upward momentum.
In the broader market context, the stock's short-term performance over the past week shows a modest gain of 0.33%, while the benchmark Sensex has increased by 0.88%. This indicates that while Indo Borax is performing slightly below the benchmark in the short term, its year-to-date return of 35.90% significantly outpaces the Sensex's 5.74% gain. The company's low debt-to-equity ratio and consistent returns over the last three years further bolster investor confidence, suggesting that the stock's recent rise may be supported by its strong fundamentals despite the recent decline in trading volume.