Why is Pondy Oxides falling/rising?

As of 17-Jul, Pondy Oxides & Chemicals Ltd is experiencing a price increase, currently at Rs 988.25, which reflects a rise of Rs 16.0 or 1.65%. The stock has shown strong performance recently, gaining 2.97% over the last two days and outperforming its sector by 1.4% today. It has also touched an intraday high of Rs 998.35. Over the past week, the stock has risen by 6.49%, and it has demonstrated impressive returns of 34.04% over the past month and 102.10% over the past year. The company has consistently reported positive results, including a significant growth in net sales and a strong debt servicing capability, which contributes to investor confidence.
In the broader market context, while Pondy Oxides has outperformed the Sensex, which has declined by 1.12% over the past week, the stock's strong performance is notable against the backdrop of a generally stable market. The stock has maintained consistent returns over the last three years, significantly outperforming the BSE500 index. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 32.77% against the five-day average, which could indicate a potential concern for future trading activity. Overall, the combination of strong financial performance and recent positive price movements suggests a favorable outlook for the stock despite the decrease in trading volume.