Why is IOL Chemicals falling/rising?

As of 31-Jul, IOL Chemicals & Pharmaceuticals Ltd is experiencing a price increase, with the current price at Rs 103.00, reflecting a rise of Rs 2.8 or 2.79%. The stock has shown strong performance recently, gaining 11.39% over the last three days and outperforming its sector by 3.85% today. Despite opening with a loss of 6.37%, it reached an intraday high of Rs 105. The stock has been trading above its moving averages, indicating positive momentum. Additionally, the company reported its highest quarterly net sales and operating profit margins, which may have bolstered investor confidence. The increase in institutional investor participation, with a 1.08% rise in their stake, further supports the stock's upward movement.
In the broader market context, IOL Chemicals has outperformed the benchmark, as evidenced by its 1-week return of +7.74% compared to the Sensex's -1.22%. Over the past year, while the BSE500 has generated negative returns of -3.20%, IOL Chemicals has achieved an 18.99% return, showcasing its resilience in a challenging market environment. This strong relative performance may attract more investors, contributing to the stock's rising price.