Why is J.G.Chemicals falling/rising?

As of 21-Jul, J.G.Chemicals Ltd is experiencing a price increase, currently at Rs 510.20, reflecting a change of 1.75 (0.34%) upward. The stock has shown strong performance recently, hitting a new 52-week high of Rs 558.4 today and outperforming its sector by 0.71%. Over the past week, the stock has gained 4.77%, and in the last month, it has surged by 29.49%. The company has reported positive results for the last three consecutive quarters, with net sales growing by 26.45% and profit after tax increasing by 38.65%. Additionally, the stock's valuation appears attractive with a low debt-to-equity ratio and a PEG ratio of 0.3, contributing to its recent upward momentum.
In the broader market context, J.G.Chemicals has significantly outperformed the benchmark, with a one-year return of 108.24% compared to the BSE500's return of only 1.63%. This strong performance is further supported by rising investor participation, as indicated by an increase in delivery volume. However, there are concerns regarding the company's long-term growth potential, as net sales have only grown at an annual rate of 4.00% over the last five years, and domestic mutual funds hold no stake in the company, which may reflect a lack of confidence in its valuation or business prospects. Despite these risks, the current momentum and positive financial results are driving the stock's rise.