Why is Arihant Super. falling/rising?

As of 18-Sep, Arihant Superstructures Ltd is experiencing a price increase, currently at Rs 413.00, reflecting a rise of 4.35 (1.06%). The stock has shown positive momentum, gaining for the last two days with a total return of 3.31% during this period. It opened with a gap up of 2.78% today and reached an intraday high of Rs 420. The stock has outperformed its sector by 1% today and has generated a return of 17.76% over the past year, although it has seen a decline of 0.41% over the past month. Despite these positive indicators, the company has a high debt-to-equity ratio of 1.84 times, which raises concerns about its long-term fundamental strength. Additionally, domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its valuation.
In the broader market context, Arihant Superstructures Ltd has outperformed the Sensex in the short term, with a 1-week return of 2.10% compared to the benchmark's 1.80%. However, the stock's year-to-date performance is notably weaker, down 12.25% against the Sensex's gain of 6.24%. While the stock has shown strong long-term performance, with a remarkable 1657.45% increase over the past five years, the recent flat results and high debt levels may be contributing to cautious investor sentiment. The combination of short-term gains and long-term concerns creates a complex picture for investors considering the stock's future trajectory.