Why is Khaitan Chemical falling/rising?

As of 30-Jul, Khaitan Chemicals & Fertilizers Ltd is experiencing a decline in its stock price, currently at Rs 111.10, which reflects a decrease of Rs 1.9 or 1.68%. The stock opened with a loss of 2% today and touched an intraday low of Rs 110.74, indicating a challenging trading session. Despite this, the stock has shown strong performance over the past month, with a return of 20.21%, and has outperformed the broader market over the last year with a gain of 28.37%. However, it is currently 2.86% away from its 52-week high of Rs 114.28. The company has reported impressive growth in net sales and positive results over the last three quarters, but concerns about long-term growth and a high valuation relative to its peers may be contributing to the recent price decline.
In the broader market context, the stock's performance contrasts with the Sensex, which has decreased by 1.50% over the past week. While the fertilizer sector has gained by 2.8%, Khaitan Chemicals has underperformed its sector by 4.49% today. The rising investor participation, indicated by a significant increase in delivery volume, suggests some underlying interest in the stock despite its current price drop. Additionally, while the stock has generated positive returns over the past year, the low stake held by domestic mutual funds may indicate a lack of confidence in the stock's valuation or business prospects, which could be influencing its recent price movement.