Why is GMR Airports falling/rising?

As of 05-Aug, GMR Airports Ltd is experiencing a price increase, currently at 92.80, reflecting a rise of 1.32 or 1.44%. The stock has shown strong performance recently, outperforming its sector by 0.94% today and gaining 3.78% over the last two days. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the stock has seen a significant increase in delivery volume, rising by 58.07% compared to the 5-day average, and has high institutional holdings at 20.19%, which suggests confidence from more sophisticated investors. However, the company does have a negative book value and a high debt-to-equity ratio, which raises concerns about its long-term fundamental strength despite recent positive quarterly results.
In the broader market context, GMR Airports Ltd has outperformed the Sensex benchmark over the past week and month, with returns of +2.88% and +3.21%, respectively, while the Sensex has declined by -0.77% and -3.26%. This indicates that the stock is gaining traction even as the overall market faces challenges. The company's year-to-date performance of +18.08% compared to the Sensex's +3.29% further highlights its relative strength. Despite the positive short-term movements, the underlying risks associated with its negative book value and high debt levels remain a concern for potential investors.