Why is Punjab Chemicals falling/rising?

As of 24-Jul, Punjab Chemicals & Crop Protection Ltd is experiencing a price increase, with the current price at 1,287.45, reflecting a rise of 9.7 or 0.76%. Today's performance indicates a trend reversal as the stock has gained after two consecutive days of decline. It has outperformed its sector by 0.32%, although it has seen a significant drop in investor participation, with delivery volume falling by 63.51% compared to the five-day average. Over the past month, the stock has shown a positive return of 11.42%, while it has underperformed the benchmark Sensex over the past week with a decline of 4.03%. The stock is currently trading at a discount compared to its peers' average historical valuations, which may attract investors despite a year-over-year profit decline of 22.1%.
Broader Market Context: In the short term, Punjab Chemicals has underperformed the Sensex, which has only seen a minor decline of 0.09% over the past week. However, the stock has shown resilience with a year-to-date return of 20.32%, significantly outperforming the Sensex's 5.18% during the same period. The company's strong ability to service debt, indicated by a low Debt to EBITDA ratio of 0.90 times, supports its valuation, despite the recent profit drop. Overall, while the stock has faced some challenges, its recent price movement reflects a potential recovery phase amidst broader market conditions.