Why is IOL Chemicals falling/rising?

As of 15-Jul, IOL Chemicals & Pharmaceuticals Ltd is experiencing a price increase, currently at 93.53, reflecting a change of 0.72 or 0.78% upward. The stock has been gaining for the last four days, with a total return of 3.09% during this period. However, it underperformed its sector by 0.31%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Despite this, there has been a decline in investor participation, with delivery volume falling by 16.33% compared to the 5-day average. Over the past year, the stock has generated a return of 11.28%, significantly outperforming the broader market's return of 0.37%.
In the broader market context, IOL Chemicals has shown a strong performance relative to the benchmark, with a year-to-date return of 15.07% compared to the Sensex's 5.67%. This market-beating performance is supported by positive financial results, including record net sales and operating profit margins. The company's low debt-to-equity ratio also contributes to its stability, making it a hold for investors. However, the recent decline in delivery volume may indicate a potential concern regarding liquidity and investor interest moving forward.