Why is Primo Chemicals falling/rising?

As of 22-Jul, Primo Chemicals Ltd's stock price is rising, currently at Rs 27.60, reflecting an increase of Rs 1.33 or 5.06%. Today's price summary indicates that the stock has outperformed its sector by 5.31% and has gained after two consecutive days of decline. It opened with a gain of 2.78% and reached an intraday high of Rs 28.76, marking a 9.48% increase. Despite this positive movement, the stock has shown a year-to-date decline of 25.65%, although it has generated a return of 4.27% over the past week, contrasting with a slight decline in the benchmark Sensex, which fell by 0.47% during the same period. The company has reported strong operating profit growth of 21.28% and positive results for the last three consecutive quarters, contributing to a significant rise in profits by 123.21% over the latest six months.
In the broader market context, while the stock has experienced a notable short-term gain, it has underperformed on a year-to-date basis compared to the Sensex, which has risen by 5.18%. The stock's recent performance is bolstered by its attractive valuation, trading at a discount relative to peers, and a PEG ratio of 1.7, indicating potential for future growth. However, it is important to note that investor participation has decreased, with delivery volume falling by 27.95% against the five-day average, which could indicate a lack of sustained interest. Overall, the combination of positive financial results and a recent upward price movement suggests a potential turnaround for Primo Chemicals, despite its longer-term challenges.