Why is Thirumalai Chem. falling/rising?

As of 12-Sep, Thirumalai Chemicals Ltd is experiencing a price increase, currently at Rs 314.95, reflecting a rise of Rs 6.25 or 2.02%. The stock has shown positive momentum, gaining 4.01% over the last two days and outperforming its sector by 1.14% today. It reached an intraday high of Rs 323.65, indicating strong trading activity. However, despite these short-term gains, the company faces significant challenges, including a poor long-term growth outlook with operating profit declining at an alarming rate of -235.96% over the past five years. Additionally, the company has reported negative results for the last three consecutive quarters, with a substantial drop in profit after tax and operating cash flow, which raises concerns about its financial health.
In the broader market context, Thirumalai Chemicals has outperformed the Sensex in the short term, with a 1-week return of +2.69% compared to the Sensex's +1.48%. However, the stock's year-to-date performance remains negative at -1.93%, contrasting with the Sensex's positive return of +4.82%. The low participation from domestic mutual funds, holding only 1.26% of the company, suggests a lack of confidence in the stock's valuation and business prospects. Overall, while the stock is currently rising, the underlying financial issues and market sentiment indicate a precarious position for Thirumalai Chemicals.