Why is Indokem falling/rising?

As of 18-Jul, Indokem Ltd's stock price is currently at 322.35, reflecting a decline of 6.55 points or 1.99%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decrease of 3.95% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a remarkable increase of 269.20% over the past year and 431.93% over the last three years. The company has also reported very positive results in its operating profit and has consistently declared positive results for the last three quarters, which indicates a solid financial foundation. However, the stock's performance today has underperformed its sector by 1.75%, which may contribute to the current price decline.
In the broader market context, the Sensex has experienced a slight decline of 0.90% over the past week, while Indokem's stock has gained 1.91% in the same timeframe, showcasing its resilience compared to the benchmark. The stock's liquidity remains adequate, with a significant increase in delivery volume, suggesting rising investor participation. However, the recent price drop may be attributed to short-term market fluctuations despite the company's strong long-term performance. Overall, while Indokem has shown impressive growth and outperformed the market in the long run, the recent price decline reflects short-term pressures and sector underperformance.