Why is Pondy Oxides falling/rising?

As of 17-Oct, Pondy Oxides & Chemicals Ltd is experiencing a price increase, currently at Rs 1,372.40, reflecting a rise of 5.25 points or 0.38%. The stock reached a new 52-week high of Rs 1,507.05 today, demonstrating strong performance with an intraday high increase of 10.23%. Over the past week, the stock has gained 5.17%, and year-to-date, it has surged by 60.51%. The company has shown robust financial health, with a low Debt to EBITDA ratio of 0.86 times and a significant growth in net profit of 34.56%. However, there are concerns regarding its high valuation, as indicated by a ROCE of 13.3 and a premium trading status compared to peers.
In the broader market context, Pondy Oxides has outperformed the Sensex, which has only increased by 1.76% over the past week. This strong performance is further highlighted by the stock's ability to generate returns that exceed those of the benchmark indices over various periods, including a 22.84% return over the last year. Despite a recent decline in delivery volume by 20.73%, the stock remains liquid enough for trading, indicating continued investor interest. Overall, the combination of strong financial results and market-beating performance contributes to the stock's upward movement, despite some concerns about valuation.