Why is Manali Petrochem falling/rising?

As of 22-Jul, Manali Petrochemicals Ltd is experiencing a decline in its stock price, currently at Rs 76.23, which reflects a decrease of Rs 1.55 or 1.99%. The stock has been underperforming, having fallen consecutively for the last two days with a total drop of 3.94%. Despite this recent downturn, the stock has shown positive performance over the past week and month, with returns of 11.38% and 15.13% respectively. Additionally, it is trading above its moving averages across various time frames, indicating some underlying strength. The company maintains a low Debt to Equity ratio, which is generally viewed positively, but this has not been sufficient to counteract the recent price decline.
In the broader market context, while Manali Petrochemicals has underperformed its sector by 0.35% today, it has outperformed the Sensex over the past week and month, contrasting with the benchmark's slight declines of 0.47% and 0.27%. Year-to-date, the stock has gained 20.60%, significantly outpacing the Sensex's 5.18% increase. However, over the longer term, the stock has struggled, with a 1-year decline of 21.86% compared to the Sensex's modest gain. This mixed performance suggests that while there are positive indicators, the recent price movement reflects investor caution amid short-term volatility.