Why is SPIC falling/rising?

As of 23-Jul, Southern Petrochemical Industries Corporation Ltd. is experiencing a price increase, currently at Rs 88.54, which reflects a rise of Rs 2.94 or 3.43%. The stock has shown strong performance today, outperforming its sector by 3.47% and achieving a consecutive gain over the last three days, with a total return of 5.25% during this period. It reached an intraday high of Rs 88.95, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 18.26% compared to the 5-day average. The stock has also demonstrated impressive long-term performance, with a year-to-date return of 20.77% and a three-year return of 70.27%. Despite a slight decline in profits over the past year, the company maintains a low Debt to EBITDA ratio and has attracted increased interest from institutional investors, which supports its valuation.
In the broader market context, the stock's short-term return of 3.98% over the past week significantly outpaces the Sensex's modest increase of 0.11%. This trend of outperformance is consistent, as the stock has outperformed the BSE500 over various time frames, including the last three years and one year. The strong institutional interest, with a 3.16% increase in their stake, indicates confidence in the company's fundamentals, further contributing to the stock's upward momentum. Overall, the combination of solid performance metrics, favorable investor sentiment, and a robust market position underpins the stock's rising price.