Why is IOL Chemicals falling/rising?

As of 24-Jul, IOL Chemicals & Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at Rs 95.60, which reflects a decrease of Rs 2.94 or 2.98%. Today's price summary indicates that the stock touched an intraday high of Rs 101.25 but also reached a low of Rs 95.47, suggesting volatility within the trading day. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 3.68% and 3.64%, respectively. Additionally, the company reported strong financial results in March, with record net sales and operating profit margins, and has seen increased participation from institutional investors, which may provide some support for the stock despite its current downturn.
In the broader market context, IOL Chemicals has outperformed the benchmark index, generating a return of 14.63% over the past year compared to the BSE500's return of only 0.99%. However, the stock underperformed its sector today by 2.83%, which may have contributed to the current price decline. The overall market sentiment appears mixed, as the stock has been liquid enough for trading, but the recent price drop could reflect profit-taking or market corrections following its strong performance in previous periods.