Why is SPIC falling/rising?

As of 01-Sep, Southern Petrochemical Industries Corporation Ltd. is experiencing a price increase, with its current price at Rs. 116.30, reflecting a change of 8.31 (7.7%) upwards. The stock has recently hit a new 52-week and all-time high of Rs. 118.55, and it has outperformed its sector by 5.74%. Over the past two days, the stock has gained 11.97%, opening with a gain of 3.71% today. In terms of performance, the stock has shown impressive returns, with a 24.44% increase over the past month and a 58.64% rise year-to-date, significantly outperforming the Sensex, which has seen a decline of 0.29% in the same period. The company's strong fundamentals, including a low Debt to EBITDA ratio of 1.18 times and a healthy annual operating profit growth rate of 31.47%, contribute positively to its stock performance. Additionally, institutional investors have increased their stake, indicating confidence in the company's future prospects.
In the broader market context, the stock's short-term return of 4.51% over the past week contrasts sharply with the Sensex, which has declined by 1.56%. This divergence highlights the stock's resilience and attractiveness to investors, particularly in a challenging market environment. The stock's ability to generate substantial returns over various time frames, including a 32.49% increase over the past year, further underscores its strong market position compared to the benchmark, which has seen a decline of 2.43%. Overall, the combination of strong financial performance, rising investor participation, and favorable market conditions has contributed to the stock's upward movement.