Why is Pondy Oxides falling/rising?

As of 26-Aug, Pondy Oxides & Chemicals Ltd is currently priced at Rs 1,090.00, reflecting a decrease of Rs 65.4, or 5.66%. Today's price summary indicates that the stock has underperformed its sector by 3.79%, with an intraday low of Rs 1,075, marking a decline of 6.96%. Despite this drop, the stock has shown strong performance over the longer term, with a year-to-date return of 27.49% and a remarkable 458.83% increase over the past three years. The company has demonstrated a solid ability to service its debt, evidenced by a low Debt to EBITDA ratio of 0.86 times, and has consistently reported positive results over the last five quarters, including a 54.45% growth in operating profit.
In the broader market context, while Pondy Oxides has experienced a short-term decline, it has outperformed the benchmark Sensex, which has decreased by 1.05% over the past week. The stock's performance over the last year shows a 15.19% increase, contrasting with the Sensex's decline of 1.12%. However, the stock is considered to have a very expensive valuation with a ROCE of 13.3 and a PEG ratio of 1, suggesting that it is trading at a premium compared to its peers. This valuation concern, alongside the recent price drop, may be contributing to the current downward movement in the stock price.