Why is Ishan Dyes falling/rising?

As of 24-Jun, Ishan Dyes and Chemicals Ltd is currently priced at Rs 52.25, reflecting a decrease of Rs 1.24 or 2.32%. Today, the stock opened with a gain of 2.82% but has since fallen, marking a trend reversal after two consecutive days of gains. The stock has shown high volatility, trading in a wide range of Rs 5.24, with a day's high of Rs 55 and a low of Rs 49.76. Over the past week, the stock has outperformed the benchmark with a return of 15.09% compared to the Sensex's 0.58%. However, its year-to-date performance remains negative at -3.85%, and it has underperformed the benchmark over the last year and three years. Despite a significant increase in profits by 86% over the past year, the stock has generated a return of -14.65%, indicating underlying weaknesses in long-term fundamentals, such as a -12.97% CAGR growth in operating profits over the last five years.
In the broader market context, while Ishan Dyes has shown strong short-term performance, it has consistently underperformed against the benchmark in longer time frames. The stock's current decline can be attributed to its weak long-term fundamental strength, highlighted by a low return on equity of 6.54% and a concerning operating profit to interest ratio. Despite attractive valuations and rising investor participation, the overall sentiment appears to be cautious due to the company's historical underperformance and the volatility observed today. This combination of factors suggests that while there may be short-term gains, the long-term outlook remains challenging for Ishan Dyes.