Why is Kothari Petroche falling/rising?

As of 04-Aug, Kothari Petrochemicals Ltd is experiencing a price increase, currently at Rs 162.43, reflecting a rise of Rs 7.12 or 4.58%. The stock has shown a positive performance today, outperforming its sector by 3.86%. Although it has been trading below its moving averages, the stock has not experienced any consecutive falls recently, and there has been a notable increase in investor participation, with delivery volume rising by 79.71% against the 5-day average. Despite a year-to-date decline of 16.38% and a one-month drop of 9.59%, the company's low debt-to-equity ratio and attractive valuation with a return on equity of 21.5% may contribute to a more favorable outlook among investors.
In the broader market context, Kothari Petrochemicals has outperformed the Sensex in the short term, with a weekly return of +0.24% compared to the benchmark's +0.17%. However, the stock's longer-term performance has been less favorable, with a year-to-date decline significantly larger than that of the Sensex, which has gained 4.56% during the same period. The relatively low stake held by domestic mutual funds may indicate a lack of confidence in the stock's current valuation, despite its fair value compared to peers. This mixed sentiment could be influencing the stock's recent upward movement, as investors weigh the company's potential against broader market trends.