Why is Khaitan Chemical falling/rising?

As of 16-Jul, Khaitan Chemicals & Fertilizers Ltd is experiencing a price increase, currently at Rs 102.83, reflecting a rise of 2.01 (1.99%). The stock has shown strong performance recently, gaining 8.22% over the last four days and is close to its 52-week high, just 0.29% away from Rs 103.13. It has outperformed its sector by 1.88% today and is trading above all major moving averages. The company has reported very positive results, with net sales growing by 216.11% and profit after tax increasing by 123.1% in the latest quarter. However, there are concerns regarding long-term growth, as operating profit has declined at an annual rate of 19.76% over the past five years, and the return on capital employed is negative, indicating potential valuation issues.
Broader market context shows that while Khaitan Chemicals has outperformed the benchmark, with a 31.41% return over the past year compared to the BSE500's 0.47%, the stock's recent gains come amid a broader market decline, as evidenced by the Sensex's drop of 1.08% over the past week. Despite the stock's strong short-term performance, the falling investor participation, indicated by a decrease in delivery volume, raises questions about sustained interest. Additionally, the minimal stake held by domestic mutual funds may suggest a lack of confidence in the stock's valuation or business prospects, which could impact future price movements.