Why is Ultramarine Pig. falling/rising?

As of 22-Jul, Ultramarine & Pigments Ltd is experiencing a decline in its stock price, currently at Rs 589.30, which reflects a decrease of Rs 9.5 or 1.59%. The stock has recently underperformed its sector by 1.73% and has fallen after six consecutive days of gains. Despite this drop, the stock remains close to its 52-week high, being only 4.18% away from Rs 613.95. Over the past week, Ultramarine & Pigments Ltd has shown a strong performance with a return of 10.36%, and it has outperformed the Sensex over various periods, including a 33.73% return over the past year. The company has reported significant growth in net profit and sales, which has contributed to its attractive valuation, although concerns about long-term growth persist due to a lower annual operating profit growth rate.
In the broader market context, Ultramarine & Pigments Ltd's recent performance contrasts with the Sensex, which has seen a slight decline of 0.47% over the past week. The stock's strong performance in the long term, including a 71.78% increase over three years, indicates resilience compared to the benchmark. However, the lack of domestic mutual fund investment may signal caution among institutional investors regarding the stock's current price level. This mixed sentiment, combined with the recent price drop, suggests that while the company has strong fundamentals, market dynamics and investor perceptions are influencing its short-term price movements.