Why is Manali Petrochem falling/rising?

As of 21-Jul, Manali Petrochemicals Ltd is currently priced at 77.78, reflecting a decrease of 1.58, or 1.99%. The stock has underperformed its sector by 2.63% today and has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 15.37% and 17.47%, respectively. Additionally, it is trading above its moving averages across various time frames, indicating a generally positive trend. The company also has a low Debt to Equity ratio, which suggests financial stability, although this has not prevented the recent price drop.
In the broader market context, while Manali Petrochemicals has outperformed the Sensex over the past week and month, it has lagged behind on a year-to-date basis, with a return of 23.05% compared to the Sensex's 5.20%. The stock's recent decline may be attributed to a short-term correction after a period of gains, despite rising investor participation and significant increases in delivery volume. Overall, while the stock has shown resilience in the longer term, the current price movement reflects a temporary setback in the face of broader market trends.