Why is SPIC falling/rising?

As of 03-Sep, Southern Petrochemical Industries Corporation Ltd. is experiencing a price increase, with its current price at 122.85, reflecting a rise of 11.8 or 10.63%. The stock has recently hit a new 52-week and all-time high of Rs. 128.1, showcasing a strong performance today by outperforming its sector by 8.91%. Over the past week, the stock has gained 13.51%, and it has shown impressive returns of 31.45% over the past month and 67.58% year-to-date. 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 movement. Additionally, institutional investors have increased their stake, indicating growing confidence in the company's prospects.
In the broader market context, while the Sensex has seen a slight decline of 0.27% over the past week, SPIC's performance stands in stark contrast, highlighting its resilience and attractiveness to investors. The stock's ability to generate a return of 38.84% over the past year, coupled with its outperformance against the BSE500 in various timeframes, underscores its strong market position. Despite a slight decrease in delivery volume, the overall liquidity remains sufficient for trading, further supporting the stock's upward trajectory.