Why is IOL Chemicals falling/rising?

As of 15-Oct, IOL Chemicals & Pharmaceuticals Ltd is experiencing a price increase, currently at Rs 97.60, which reflects a rise of Rs 1.5 or 1.56%. The stock has shown a trend reversal by gaining after two consecutive days of decline, and it outperformed its sector by 0.99% today. The stock reached an intraday high of Rs 98.1, indicating positive momentum. Despite a negative performance over the past week and month, with declines of 5.01% and 18.22% respectively, the stock has performed well year-to-date with a return of 20.08%. Additionally, the company has a low debt-to-equity ratio of 0.01 times, and there has been an increase in institutional investor participation, which rose by 1.08% over the previous quarter, suggesting growing confidence in the company's fundamentals.
In the broader market context, the stock's recent performance contrasts with the benchmark, as the BSE500 has generated negative returns of -1.87% over the last year, while IOL Chemicals has managed to achieve a return of 12.62%. This indicates that despite the stock's recent volatility, it has been able to outperform the market significantly over the longer term. The stock's liquidity is also favorable, with a delivery volume increase of 30.63% against the five-day average, which may contribute to the positive sentiment among investors.