Why is Pondy Oxides falling/rising?

As of 20-Oct, Pondy Oxides & Chemicals Ltd is experiencing a price increase, currently at Rs 1,446.00, reflecting a rise of Rs 73.6 or 5.36%. The stock has shown strong performance today, having outperformed its sector by 4.8% and opened with a gain of 2.01%. It has been on a consecutive gain streak for the last two days, accumulating a total return of 5.77% during this period. Additionally, the stock is trading close to its 52-week high, just 4.22% away from Rs 1,507.05. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.86 times and significant growth in operating profit and net profit, which have increased by 49.54% and 34.56%, respectively. The positive results declared in September, along with consistent performance over the last six quarters, have contributed to the stock's upward movement.
In the broader market context, Pondy Oxides has outperformed the Sensex, with a one-week return of 8.46% compared to the benchmark's 2.47%. The stock has also shown impressive long-term performance, with a year-to-date return of 69.12% against the Sensex's 7.97%. This strong performance, coupled with rising investor participation indicated by a significant increase in delivery volume, suggests a positive sentiment among investors. However, it is worth noting that the stock is considered to have a very expensive valuation based on its ROCE of 13.3 and a PEG ratio of 0.9, which could pose risks if market conditions change. Overall, the combination of strong financial results and positive market sentiment has driven the stock's recent rise.