Why is Pondy Oxides falling/rising?

As of 15-Jul, Pondy Oxides & Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 959.75, which reflects a decrease of Rs 5.05 or 0.52%. The stock has underperformed its sector by 1.61% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 0.86% during this period. Despite touching an intraday high of Rs 992.25 earlier in the day, the stock's performance has been hindered by a decrease in investor participation, with delivery volume falling by 15.01% against the 5-day average. However, it is noteworthy that Pondy Oxides has shown strong returns over various periods, including a 95.65% increase over the last year and a remarkable 646.16% increase over the past three years, indicating a solid long-term performance.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 1.36% over the past week while Pondy Oxides has gained 0.44%. This suggests that, despite its current decline, the stock has been relatively resilient compared to the overall market. The company has demonstrated a strong ability to service its debt, with a low Debt to EBITDA ratio of 0.86 times, and has reported positive results for the last four consecutive quarters, including a significant growth in net sales. These factors contribute to a generally favorable outlook for the stock, even as it faces short-term challenges.