Why is GMR Airports falling/rising?

As of 04-Aug, GMR Airports Ltd is experiencing a price increase, currently at Rs 91.48, reflecting a rise of 2.06 or 2.3%. The stock has outperformed its sector today by 1.42%, reaching an intraday high of Rs 91.64. In terms of returns, the stock has shown a positive performance over the past week with a gain of 2.03%, while it has increased by 1.75% over the past month. Notably, the company reported positive results for June 25, with the highest return on capital employed at 6.89% and net sales reaching Rs 3,205.23 crore. Additionally, institutional holdings are strong at 20.19%, having increased by 0.97% over the previous quarter, indicating confidence from larger investors despite the company's negative book value and high debt levels.
In the broader market context, GMR Airports Ltd's short-term performance has significantly outpaced the Sensex, which only gained 0.16% over the same week. While the stock has shown a year-to-date increase of 16.40% compared to the Sensex's 3.69%, it has faced challenges over the past year with a decline of 6.65%. The company's long-term fundamentals are concerning, with a weak growth rate in net sales and operating profit, which may pose risks for future performance. However, the current positive momentum in stock price can be attributed to rising investor participation and favorable recent financial results, which have helped to mitigate some of the negative sentiment surrounding its long-term outlook.