Why is Khaitan Chemical falling/rising?

As of 22-Jul, Khaitan Chemicals & Fertilizers Ltd is experiencing a price increase, currently at Rs 107.70, which reflects a rise of 2.09 (1.98%). The stock has recently hit a new 52-week high of Rs 107.72 and has outperformed its sector by 2.25%. Over the last three days, it has gained 6.1%, and it opened with a 2% gain today. Despite these positive movements, there has been a notable decline in investor participation, with delivery volume falling by 52.59% compared to the five-day average. The company has reported significant growth in net sales and profits over the last two quarters, which has contributed to its strong performance, although concerns about long-term growth persist due to a negative operating profit growth rate over the past five years.
In the broader market context, Khaitan Chemicals has significantly outperformed the benchmark Sensex, with a one-week return of 6.82% compared to the Sensex's decline of 0.47%. Year-to-date, the stock has risen by 50.36%, while the Sensex has only increased by 5.18%. This stark contrast in performance highlights the stock's strong market position despite some underlying risks, such as low domestic mutual fund holdings and a high PEG ratio, which may indicate concerns about its valuation. Overall, the stock's recent gains are driven by strong sales growth and positive quarterly results, even as it faces challenges related to long-term profitability and market perception.