Why is Primo Chemicals falling/rising?

As of 31-Jul, Primo Chemicals Ltd is experiencing a decline in its stock price, currently at 27.82, reflecting a decrease of 0.16 or 0.57%. The stock has shown a trend reversal, falling after two consecutive days of gains. In terms of performance, it has outperformed its sector by 0.49% today, but the delivery volume has significantly decreased by 85.89% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has dropped by 9.97%, while it has gained 7.00% over the past month. Despite a year-to-date decline of 25.05%, the company has reported positive financial results, including a 21.28% growth in operating profit and a 123.21% increase in profit after tax over the last six months, which suggests a strong operational performance.
In the broader market context, the Sensex has only declined by 1.22% over the past week, indicating that the stock's short-term performance is significantly worse than the benchmark. While the stock has generated a negative return of 24.87% over the past year, its profits have risen substantially, suggesting that the stock may be undervalued compared to its peers. The attractive valuation, with a return on capital employed (ROCE) of 3.2 and a PEG ratio of 1.7, indicates potential for recovery. However, the majority of shareholders being non-institutional may contribute to volatility in stock performance, as seen in the recent price movements.