Why is IOL Chemicals falling/rising?

As of 01-Aug, IOL Chemicals & Pharmaceuticals Ltd is currently priced at 100.30, reflecting a decrease of 2.7, or 2.62%. The stock has underperformed its sector today by 0.66% and has experienced a trend reversal, falling after three consecutive days of gains. It touched an intraday low of Rs 99.55, marking a decline of 3.35%. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 6.45% and 3.69%, respectively. Additionally, the company has reported strong financial results, including the highest net sales and operating profit margins, and has a low debt-to-equity ratio, which may support investor confidence. Furthermore, institutional investors have increased their stake, indicating a positive outlook from more sophisticated market participants.
In the broader market context, while the stock has generated a return of 17.12% over the past year, the benchmark Sensex has declined by 1.55%, highlighting the stock's ability to outperform the market despite recent volatility. However, the stock's performance today contrasts with the overall trend, as it has fallen while the market has shown mixed results. The stock's recent decline may be attributed to profit-taking after a period of gains, but its overall performance remains strong relative to the benchmark, suggesting that the fundamentals of the company are still solid despite the short-term price movement.