Why is IOL Chemicals falling/rising?

As of 21-Aug, IOL Chemicals & Pharmaceuticals Ltd is experiencing a slight increase in its stock price, currently at 98.20, reflecting a change of 0.2 (0.2%) upwards. The stock has shown a strong performance recently, gaining 7.09% over the past week and trading above its moving averages for 5, 20, 50, 100, and 200 days. Despite a decrease in delivery volume by 7.07% compared to the 5-day average, the stock has benefited from increased participation by institutional investors, who have raised their stake by 1.08% in the last quarter. This suggests a positive outlook from more knowledgeable investors, which may contribute to the stock's recent upward movement.
In the broader market context, IOL Chemicals has outperformed the benchmark, as evidenced by its 12.22% return over the past year compared to the BSE500's negative return of -1.56%. This strong performance relative to the market indicates that the stock is gaining traction among investors despite a generally unfavorable market environment. The stock's ability to maintain a positive trajectory, even as the market has struggled, underscores its resilience and attractiveness to investors.