Why is IOL Chemicals falling/rising?

As of 13-Aug, IOL Chemicals & Pharmaceuticals Ltd is experiencing a price increase, currently at Rs 93.40, reflecting a rise of Rs 2.9 or 3.2%. The stock has shown positive momentum, gaining 3.49% over the last two days and outperforming its sector by 1.22%. Despite a recent 1.84% decline over the past week, the stock has performed well over the longer term, with a 20.55% increase over the past year, significantly outpacing the broader market, which has generated negative returns. The company benefits from a low debt-to-equity ratio and increasing participation from institutional investors, who have raised their stake by 1.08% in the last quarter, indicating confidence in the company's fundamentals.
In the broader market context, the stock's recent performance contrasts with the BSE500 benchmark, which has seen a slight decline of 0.64% over the past year. While the stock has faced a short-term dip, it has managed to maintain a positive trajectory in the longer term, with a year-to-date return of 14.91% compared to the Sensex's 3.07%. The chemicals sector has also shown resilience, gaining 2.01%, which may contribute to the stock's upward movement. However, a notable decline in delivery volume suggests a potential decrease in investor participation, which could impact future price movements.