Why is Panama Petrochem falling/rising?

As of 11-Nov, Panama Petrochem Ltd's stock price is rising, currently at 298.85, reflecting an increase of 22.3 or 8.06%. The stock has shown strong performance today, outperforming its sector by 7.73% and achieving a consecutive gain over the last two days with a total return of 11.85%. It reached an intraday high of Rs 314.9, indicating significant trading activity within a wide range of Rs 40.95. The stock's recent upward movement is supported by a healthy long-term growth trajectory, with net sales growing at an annual rate of 25.82% and operating profit at 42.10%. Additionally, the company has reported positive results after two consecutive negative quarters, which may have bolstered investor confidence.
In the broader market context, Panama Petrochem's short-term return of 9.11% over the past week significantly outpaces the Sensex's return of 0.49%, indicating strong relative performance. However, despite this recent uptick, the stock has underperformed against the benchmark over the longer term, with a year-to-date decline of 18.03% compared to the Sensex's gain of 7.34%. The lack of domestic mutual fund investment, holding only 0% of the company, suggests caution among institutional investors, which could be a concern for potential investors despite the stock's current positive momentum.