Why is Polychem falling/rising?

As of 18-September, Polychem Ltd's stock price is currently at Rs 2,497.50, reflecting an increase of Rs 56.05 or 2.3%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 2.8% today. Despite this positive movement, the stock has experienced a decline of 8.53% over the past month and 29.41% over the past year. The stock is currently trading above its 100-day and 200-day moving averages, but below its 5-day, 20-day, and 50-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 48.98% against the 5-day average, which may indicate waning interest. The company maintains a low debt-to-equity ratio, which is a positive factor for its financial health.
In the broader market context, the Sensex has increased by 1.80% over the past week and 2.14% over the past month, while Polychem's stock has declined slightly by 0.11% in the same week and significantly over the month. This underperformance relative to the benchmark suggests that while the stock is experiencing a short-term rise, it has not kept pace with the overall market trends. The majority shareholders being promoters may provide some stability, but the recent drop in delivery volume and the stock's longer-term negative returns compared to the Sensex indicate ongoing challenges for Polychem in attracting sustained investor interest.