Why is Primo Chemicals falling/rising?

As of 19-Aug, Primo Chemicals Ltd is experiencing a price increase, with the current price at 27.47, reflecting a rise of 0.71 or 2.65%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It has outperformed its sector by 2.5% today, and there has been a notable increase in investor participation, with delivery volume rising by 114.49% compared to the 5-day average. Despite a year-to-date decline of 26.00% and a one-year return of -32.11%, the company has reported positive financial results over the last four quarters, including significant growth in profit before tax and net sales, which may contribute to the stock's recent upward movement.
In the broader market context, while the stock has underperformed the benchmark Sensex over the past year, it has shown a positive return of 3.66% over the last month, contrasting with the benchmark's slight decline of 0.14%. The stock's performance remains concerning in the long term, as it has consistently underperformed against the benchmark over the last three years. However, the attractive valuation metrics, such as a low PEG ratio and a strong growth rate in profits, suggest that the recent price increase may reflect a correction in market perception, despite the overall negative long-term growth trend.