Why is IOL Chemicals falling/rising?

As of 23-Sep, IOL Chemicals & Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at Rs 114.91, which reflects a decrease of Rs 1.83 or 1.57%. The stock has been underperforming recently, having fallen for two consecutive days with a total decline of 4.23%. It touched an intraday low of Rs 113.96, indicating a significant drop of 2.38%. Despite a strong performance over the past month with an 18.28% increase, the stock has underperformed its sector by 1.01% today. Additionally, the delivery volume has decreased by 32.09% compared to the 5-day average, suggesting a drop in investor participation. However, the company maintains a low debt-to-equity ratio and has seen a slight increase in institutional investor participation, which may provide some support for the stock.
In the broader market context, IOL Chemicals has outperformed the benchmark Sensex over various time frames, including a 41.38% year-to-date return compared to the Sensex's 5.07%. However, in the short term, the stock's performance of -0.19% over the past week contrasts with the Sensex's decline of -0.34%, indicating a relatively better performance against the broader market. Despite the recent price drop, the long-term outlook remains positive due to the company's strong historical performance and increasing institutional interest, which could help stabilize the stock in the future.