Why is Indokem falling/rising?

As of 02-Sep, Indokem Ltd's stock price is rising, currently at Rs 429.85, reflecting an increase of Rs 20.45 or 5.0%. The stock has reached a new 52-week and all-time high today, outperforming its sector by 6.35%. It has shown consistent performance, gaining 13.97% over the past week and has been on an upward trend for the last four days. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Additionally, the company has reported positive financial results over the last four consecutive quarters, with net sales growing by 24.64% and a significant annual growth rate of 83.24% in operating profit, which supports the stock's upward movement.
In the broader market context, while the Sensex has declined by 0.78% over the past week, Indokem's impressive 13.97% gain highlights its strong performance relative to the benchmark. The stock has outperformed the BSE500 over various time frames, including a remarkable 406.66% return over the past year. This strong performance, coupled with rising investor participation and liquidity, suggests that market participants are confident in Indokem's growth prospects, further contributing to the stock's rising price.