Why is Mitsu Chem Plast falling/rising?

As of 03-Sep, Mitsu Chem Plast Ltd is currently priced at 108.75, reflecting an increase of 1.1 or 1.02%. The stock has been gaining over the last two days, with a total return of 3.57% during this period. Today, it reached an intraday high of Rs 112.55, marking a rise of 4.55%, although it also experienced a low of Rs 105.15, which was a decline of 2.32%. Despite the recent gains, the stock has underperformed in the longer term, with a year-to-date decline of 2.99% compared to a 3.11% increase in the Sensex. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 14.04% against the five-day average, indicating a potential concern regarding sustained interest in the stock.
Broader Market Context: In the short term, Mitsu Chem Plast's performance has been slightly better than the benchmark, outperforming the sector by 0.4%. However, when looking at the longer-term returns, the stock has significantly lagged behind the Sensex, with a one-year decline of 24.35% compared to the benchmark's drop of only 2.41%. This stark contrast highlights the challenges faced by Mitsu Chem Plast in maintaining investor confidence and market traction, especially given its substantial decline over three years of 61.97% against the Sensex's growth of 37.01%.