Why is Gayatri Highways falling/rising?

As of 24-Sep, Gayatri Highways Ltd's stock price is currently at Rs. 3.26, reflecting an increase of 0.15 or 4.82%. The stock has recently hit a new 52-week high and has been on an upward trend, gaining for the last 11 consecutive days with a total return of 59.8% during this period. Additionally, the stock has shown impressive performance over various time frames, with a year-to-date return of 124.83% and a one-year return of 121.77%, significantly outperforming the BSE500 index. However, the company faces challenges, including a negative book value and weak long-term fundamentals, as evidenced by a decline in net sales and a high debt-to-equity ratio. Despite these concerns, the stock's recent performance has been buoyed by consistent returns over the last three years.
In the broader market context, Gayatri Highways has outperformed the Sensex, which has seen a decline of 1.18% over the past week, while the stock itself has surged by 26.36%. This stark contrast highlights the stock's strong momentum against a generally weak market backdrop. However, it is important to note that there has been a decrease in investor participation, with delivery volume falling by 16.66% compared to the five-day average, which could indicate potential caution among investors. The high percentage of pledged promoter shares may also pose a risk, particularly in volatile market conditions, adding a layer of complexity to the stock's future performance.