Why is Ishan Dyes falling/rising?

As of 16-Jul, Ishan Dyes and Chemicals Ltd is experiencing a rise in its stock price, currently at Rs 61.40, reflecting an increase of Rs 2.38 or 4.03%. The stock has shown strong performance recently, outperforming its sector by 3.37% today and achieving a consecutive gain over the last two days with a total return of 5.77%. Additionally, the stock has demonstrated significant returns over various periods, including a 30.83% increase over the past month and a 10.00% increase over the past year. Despite a decline in delivery volume, the stock is trading above its moving averages, indicating positive momentum. The company's attractive valuation, with a low PEG ratio of 0.3 and a significant profit increase of 86% over the past year, further supports its recent price rise.
In the broader market context, Ishan Dyes has outperformed the benchmark Sensex, which has seen a decline of 1.08% over the past week, while Ishan Dyes has gained 11.64% in the same period. This contrast highlights the stock's relative strength in a challenging market environment. However, it is important to note the company's long-term fundamental weaknesses, such as a negative CAGR growth in operating profits over the last five years and low profitability per unit of shareholders' funds. These factors may pose risks to sustained growth, but the current positive momentum and attractive valuation are driving the stock's rise in the short term.