Why is Khaitan Chemical falling/rising?

As of 02-Jul, Khaitan Chemicals & Fertilizers Ltd is experiencing a price increase, currently trading at Rs 98.22, which reflects a rise of 4.67 or 4.99%. The stock has shown strong performance, gaining 17.77% over the last six days and is currently just 1.51% away from its 52-week high. It has outperformed its sector by 6.42% today and is trading above all key moving averages, indicating positive momentum. The company has reported significant growth in net sales, with a 216.11% increase leading to very positive results in the last two quarters. However, it faces challenges with long-term growth due to a decline in operating profit over the past five years and a high PEG ratio of 6.7, suggesting that while the stock has performed well recently, there are concerns about its valuation and growth sustainability.
In the broader market context, Khaitan Chemicals has significantly outperformed the benchmark, with a 1-week return of 16.25% compared to the Sensex's 0.79%, and a year-to-date return of 37.12% versus the Sensex's 6.75%. This strong relative performance indicates that investor sentiment towards the stock is currently favorable, despite the low domestic mutual fund ownership, which may reflect caution among institutional investors. Overall, while the stock is rising due to strong recent performance and positive sales growth, the underlying risks related to long-term profitability and valuation remain a concern for potential investors.