Why is Agribio Spirits falling/rising?

As of 11-Sep, Agribio Spirits Ltd is experiencing a price increase, currently at Rs 221.00, reflecting a rise of 1.95 (0.89%). The stock has recently hit a new 52-week and all-time high of Rs 238, demonstrating strong performance with an 8.97% increase over the past week and a remarkable 69.28% rise year-to-date. The company has reported positive results for the last three consecutive quarters, with net sales growing by 118.66% and a higher profit after tax of Rs 2.47 crore. However, there is a concern regarding the decrease in promoter holding to 43.5%, which may affect investor confidence despite the stock's impressive returns over the past year and three years.
In the broader market context, Agribio Spirits has significantly outperformed the Sensex, which has only increased by 1.03% over the past week, while Agribio's returns for the same period stand at 8.97%. This strong performance is further supported by rising investor participation, as evidenced by a 344.31% increase in delivery volume compared to the five-day average. However, the company faces challenges with operating losses and a weak ability to service its debt, which could pose risks to its long-term fundamental strength. Despite these concerns, the stock's recent gains indicate a positive sentiment among investors, driven by its strong short-term performance and consistent returns.