Company Performance: Excel Industries' profitability, revenue growth, and financial health significantly impact its stock price. Strong performance typically drives prices up.

Industry Trends: Developments in the chemical sector, particularly the specialty chemicals segment where Excel operates, influence investor sentiment and stock valuation.

Market Sentiment: Overall investor confidence, economic outlook, and risk appetite affect demand for stocks, including Excel's. Positive market sentiment generally supports higher prices.

Regulatory Environment: Changes in environmental regulations, safety standards, and government policies related to the chemical industry can impact Excel's operations and profitability, thus affecting its stock price.

Global Economic Conditions: Global economic growth or recessionary pressures can affect demand for chemicals and Excel's export performance, leading to price fluctuations.

Raw Material Prices: Fluctuations in raw material costs, such as petrochemicals, affect Excel's production costs and profit margins, ultimately influencing its stock price.

Competition: The competitive landscape in the chemical industry, including the presence of major players and new entrants, affects Excel's market share and pricing power.

Dividend Policy: Excel's dividend payouts and dividend yield influence investor attractiveness, as higher dividends can lead to increased demand for the stock.

Interest Rates: Changes in interest rates affect the cost of borrowing for companies like Excel and also influence investor preferences between stocks and fixed-income investments.

Currency Exchange Rates: As Excel exports its products, fluctuations in currency exchange rates, particularly the INR/USD rate, can impact its export revenues and profitability.