Why is Sumitomo Chemi. falling/rising?

As of 21-Jul, Sumitomo Chemical India Ltd is experiencing a decline in its stock price, currently at Rs 584.85, which reflects a decrease of Rs 21.75 or 3.59%. Today's price summary indicates that the stock has underperformed its sector by 3.22% and has fallen after four consecutive days of gains, reaching an intraday low of Rs 583.25. Despite this decline, the stock has shown strong performance over the past week, with a return of 7.91%, and a year-to-date return of 9.32%, significantly outperforming the broader market. The company benefits from high management efficiency, evidenced by a return on equity of 19.61%, and a low debt-to-equity ratio, which supports its stability and growth potential.
Broader Market Context: In the context of the broader market, the Sensex has shown a slight decline of 0.06% over the past week, while Sumitomo Chemical's performance has been notably stronger. The stock's recent downturn may be attributed to profit-taking after a period of gains, as indicated by the trend reversal. Despite today's drop, the stock's long-term performance remains robust, with a 1-year return of 17.38%, significantly higher than the market's return of 1.98%. This suggests that while the stock is currently facing a short-term setback, its overall trajectory remains positive compared to the benchmark.