Why is Khaitan Chemical falling/rising?

As of 18-Jul, Khaitan Chemicals & Fertilizers Ltd is experiencing a price increase, currently at Rs. 103.54, reflecting a rise of 2.03 or 2.0%. The stock has reached a new 52-week high today and has outperformed its sector by 3.15%. It has shown strong performance over various periods, with a 1-month return of 21.83% and a year-to-date return of 44.55%. The company has reported significant growth in net sales, with a remarkable increase of 216.11%, and has declared positive results for the last two consecutive quarters. However, there are concerns regarding long-term growth, as operating profit has declined at an annual rate of 19.76% over the last five years, and the stock's valuation appears expensive relative to its peers.
In the broader market context, while the BSE500 index has generated negative returns of -0.36% over the past year, Khaitan Chemicals has managed to deliver a return of 35.88%, indicating strong relative performance. The stock's recent rise can be attributed to increased investor participation, as evidenced by a 38.09% rise in delivery volume compared to the 5-day average. Despite these positive indicators, the low stake of domestic mutual funds at only 0.02% may suggest caution among institutional investors regarding the stock's valuation and long-term prospects.