Why is Bajaj Hindusthan falling/rising?

As of 11-Jun, Bajaj Hindusthan Sugar Ltd is experiencing a price increase, with its current price at 25.66, reflecting a change of 0.44 or 1.74% upward. The stock has shown strong performance recently, gaining 6.08% over the last three days and outperforming its sector by 1.46%. In the past week, it has risen by 5.08%, and over the past month, it has significantly outperformed the benchmark with a return of 34.56% compared to the Sensex's 3.85%. The company has also reported its highest operating profit to interest ratio at 12.10 times and has substantial cash reserves of Rs 73.56 crore, which contribute positively to its valuation despite a high debt to EBITDA ratio of 19.57 times and a negative return on equity.
Broader market context indicates that while Bajaj Hindusthan has underperformed over the past year with a decline of 29.23%, it has shown resilience in the short term. The stock's recent gains come amid rising investor participation, as evidenced by an 82.71% increase in delivery volume. However, the broader market, represented by the BSE 500, has generated a positive return of 5.98% over the same period, highlighting the stock's struggle to keep pace with market performance. The high percentage of pledged promoter shares may also contribute to downward pressure in a falling market, indicating potential risks despite the recent positive movements.