Why is Emergent Indust. falling/rising?

As of 24-Jul, Emergent Industrial Solutions Ltd is currently priced at 970.75, showing no change (0.00%). The stock has recently hit a new 52-week and all-time high of Rs.990.15. It has outperformed its sector by 2.18% today and is trading above all its moving averages, indicating strong momentum. Over the past week, the stock has increased by 8.23%, and it has demonstrated impressive returns of 51.37% over the past month and 163.08% year-to-date. Despite a significant decline in net sales reported in March, the company has shown healthy long-term growth with annual increases in net sales and operating profit. However, the stock's high valuation relative to its peers and the recent negative financial results may create concerns among investors.
In the broader market context, while the Sensex has remained relatively flat with a change of -0.09% over the past week, Emergent Industrial Solutions Ltd's strong performance stands out. The stock's substantial returns over the past year (859.24%) and three years (950.60%) highlight its market-beating performance. This contrast between the stock's growth and the benchmark's stagnation suggests that investor sentiment remains positive towards Emergent Industrial, despite the underlying financial challenges. The rising investor participation, evidenced by a significant increase in delivery volume, further supports the stock's upward trajectory in the current market environment.