Why is Jubilant Ingrev. falling/rising?

As of 01-Jul, Jubilant Ingrevia Ltd's stock price is currently at Rs 768.20, reflecting an increase of Rs 6.3 or 0.83%. The stock has shown positive momentum, gaining 2.23% over the last two days and outperforming its sector by 1.04% today. Despite touching an intraday low of Rs 737, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. The company has reported a significant growth in net profit of 6.7% and has delivered positive results for the last two consecutive quarters, with a remarkable PAT growth of 111.52% over the latest six months. Additionally, the stock is trading at a discount compared to its peers, supported by high institutional holdings of 23.04%, which suggests confidence in its fundamentals.
In the broader market context, Jubilant Ingrevia's short-term performance has been notably strong, with a 4.50% increase over the past week compared to a 2.00% rise in the Sensex. Over the past month, the stock has risen by 9.52%, again outperforming the benchmark's 2.76% increase. However, it is important to note that the stock has a year-to-date decline of 6.70%, contrasting with the Sensex's gain of 7.11%. This mixed performance highlights the stock's volatility and the potential for recovery, particularly given its recent strong earnings and positive market sentiment.