Why is Pondy Oxides falling/rising?

As of 10-Oct, Pondy Oxides & Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 1,304.95, which represents a decrease of Rs 12.8 or 0.97%. The stock has recently underperformed its sector by 1.36% and has fallen after three consecutive days of gains. It touched an intraday low of Rs 1,278.95, reflecting a drop of 2.94%. Despite this, the stock has shown strong performance over various periods, with a year-to-date increase of 52.63% and a remarkable 436.35% rise over the past three years. The company has demonstrated a strong ability to service debt, evidenced by a low Debt to EBITDA ratio of 0.86 times, and has consistently reported positive results over the last five quarters, contributing to its long-term growth narrative.
In the broader market context, Pondy Oxides has outperformed the benchmark Sensex over the past week, month, and year, with respective returns of 4.63%, 6.74%, and 31.02% compared to the Sensex's 1.59%, 1.32%, and 1.09%. However, the recent decline in stock price may be attributed to falling investor participation, as indicated by a 23.65% drop in delivery volume against the five-day average. Additionally, the stock's valuation appears expensive relative to its peers, with a high PEG ratio of 1.5, which could be causing some investors to reassess their positions. Overall, while the stock has shown strong historical performance, current market dynamics and valuation concerns may be contributing to its recent price movement.