Why is Neogen Chemicals falling/rising?

As of 06-Aug, Neogen Chemicals Ltd is experiencing a price increase, currently at Rs 1,462.00, which reflects a gain of Rs 21.5 or 1.49%. The stock has shown a trend reversal today after three consecutive days of decline, opening with a gain of 2.05% and reaching an intraday high of Rs 1,470. Despite this positive movement, the stock is still trading below its moving averages across various time frames, indicating a longer-term downward trend. Additionally, the stock is currently 4.42% away from its 52-week low. However, there has been a significant increase in investor participation, with delivery volume rising by 281.91% compared to the five-day average, suggesting renewed interest among investors.
In the broader market context, Neogen Chemicals has underperformed against the Sensex over the past week and month, with returns of -5.69% and -9.48% respectively, compared to the Sensex's declines of -1.15% and -3.46%. Year-to-date, the stock has significantly lagged, down 33.80%, while the Sensex has gained 3.08%. This stark contrast highlights the challenges Neogen Chemicals faces in the current market environment, despite today's positive price movement. The liquidity of the stock remains adequate for trading, which may support its recent uptick, but the overall performance relative to the benchmark indicates ongoing struggles.