Why is IOL Chemicals falling/rising?

As of 30-Jul, IOL Chemicals & Pharmaceuticals Ltd is experiencing a price increase, currently at Rs 100.20, reflecting a rise of Rs 6.85 or 7.34%. The stock has shown strong performance today, outperforming its sector by 6.3% and achieving an 8.36% return over the last two days. It reached an intraday high of Rs 106, indicating significant upward momentum. The stock has consistently traded above its moving averages across various timeframes, suggesting a positive trend. Additionally, the company reported its highest quarterly net sales and operating profit margins, which, combined with a low debt-to-equity ratio, have contributed to investor confidence. However, there has been a decline in delivery volume, which may indicate a potential concern regarding investor participation.
In the broader market context, IOL Chemicals has outperformed the benchmark index, the Sensex, over the past week and month, with returns of +1.68% and +2.87%, respectively, while the Sensex has declined by -1.50% and -2.54%. Year-to-date, the stock has generated a remarkable return of +23.28%, significantly surpassing the Sensex's +4.28%. Despite the overall market's negative performance in the last year, where the BSE500 index returned -2.34%, IOL Chemicals managed to achieve a return of +16.21%, highlighting its resilience and attractiveness to institutional investors, who have increased their stake in the company.