Why is Ishan Dyes falling/rising?

As of 01-Jul, Ishan Dyes and Chemicals Ltd is experiencing a price increase, currently at Rs 60.75, reflecting a rise of Rs 2.14 or 3.65%. The stock has shown strong performance recently, outperforming its sector by 2.08% today and achieving a consecutive gain over the last two days with a total return of 7.11%. It reached an intraday high of Rs 63, although it also touched a low of Rs 57.4 during the day. The stock's performance over the past week and month has been particularly notable, with returns of 16.27% and 53.80%, respectively. Despite this positive movement, there are concerns regarding falling investor participation, as the delivery volume has decreased significantly compared to the average. The company's attractive valuation metrics, such as a low PEG ratio of 0.3 and a return on capital employed (ROCE) of 2.2, suggest that it is trading at a discount compared to its peers, which may contribute to its recent price rise.
In the broader market context, Ishan Dyes has significantly outperformed the benchmark Sensex, which has only increased by 2.00% over the past week and 2.76% over the past month, while Ishan Dyes achieved returns of 16.27% and 53.80%, respectively. This strong short-term performance relative to the benchmark indicates a positive sentiment towards the stock. However, it is important to note that the company has shown weak long-term fundamental strength, with a -12.97% CAGR growth in operating profits over the last five years, which raises concerns about its sustainability. Despite the recent gains, the low profitability per unit of shareholders' funds and the lowest operating profit to interest ratio suggest that investors should remain cautious about the stock's long-term prospects.