Why is GMR Airports falling/rising?

As of 17-Jul, GMR Airports Ltd's stock price is currently at 94.56, reflecting an increase of 0.72 (0.77%). The stock has been on an upward trend, gaining for the last four consecutive days and achieving a total return of 4.51% during this period. Additionally, the stock has outperformed its sector by 0.6% today. Over the past week, GMR Airports has shown a return of +2.50%, and for the month, it has risen by +14.31%. However, despite these positive short-term movements, the company faces challenges such as a negative book value and a high debt-to-equity ratio, which indicate weak long-term fundamental strength. The company's net sales and operating profit growth rates over the last five years have been modest, at 4.52% and 3.38%, respectively, which may contribute to investor caution.
In the broader market context, GMR Airports has significantly outperformed the benchmark Sensex, which has declined by 1.12% over the past week, while the stock has gained. Year-to-date, GMR Airports has achieved a return of +20.32%, compared to the Sensex's +5.27%. This strong performance relative to the benchmark suggests that investor sentiment may be favoring GMR Airports despite its underlying financial challenges. The rising investor participation, indicated by a 30.31% increase in delivery volume, further supports the stock's upward movement, even as the company grapples with a negative book value and declining profits over the past year.