Why is Ishan Dyes falling/rising?

As of 23-Jun, Ishan Dyes and Chemicals Ltd is experiencing a significant rise in its stock price, currently at Rs 53.49, reflecting an increase of Rs 8.89 or 19.93%. The stock has shown strong performance today, outperforming its sector by 19.75% and achieving a consecutive gain over the last two days with a total return of 21.54%. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a year-to-date decline of 1.56% and a one-year drop of 12.21%, the company has seen an impressive 86% rise in profits over the past year, contributing to its attractive valuation with a PEG ratio of 0.3. However, the stock's long-term fundamentals remain weak, with a negative CAGR growth in operating profits over the last five years and low profitability per unit of shareholders' funds.
In the broader market context, Ishan Dyes has outperformed the Sensex in the short term, with a 1-week return of 13.98% compared to the benchmark's mere 0.12%. This short-term strength contrasts with its longer-term underperformance, as evidenced by a 3-year decline of 38.13% against the Sensex's gain of 56.69%. The stock's recent rise can be attributed to its attractive valuation and profit growth, despite the declining investor participation and liquidity concerns. Overall, while the stock is currently rising, its long-term outlook remains challenged by consistent underperformance against broader market indices.