Why is Indokem falling/rising?

As of 17-Jul, Indokem Ltd's stock price is currently at Rs 328.90, reflecting a decrease of Rs 6.7 or 2.0%. The stock has recently hit a new 52-week and all-time high of Rs 342 but has experienced a trend reversal after ten consecutive days of gains, leading to today's decline. Despite this drop, the stock has shown impressive performance over various periods, with a 1-month return of 33.70% and a year-to-date return of 233.23%. The company has also reported significant growth in operating profit and has declared positive results for the last three consecutive quarters, which contributes to its strong long-term performance.
In the broader market context, Indokem's recent short-term performance has outpaced the Sensex, which has declined by 1.12% over the past week while Indokem gained 6.06%. This indicates that despite the current drop, the stock has been resilient compared to the broader market. The stock's liquidity remains strong, with a notable increase in delivery volume, suggesting continued investor interest. However, the underperformance against its sector today by 2.42% may reflect profit-taking after its recent highs, indicating a temporary pullback rather than a fundamental weakness in the company's outlook.