Why is GMR Airports falling/rising?

As of 15-Sep, GMR Airports Ltd is experiencing a price increase, currently at 89.21, reflecting a rise of 1.08 or 1.23%. The stock has shown strong performance recently, gaining 3.58% over the last six days and outperforming its sector by 0.3% today. Additionally, the stock has a year-to-date return of 13.51%, significantly higher than the Sensex's 4.67%. Positive financial results, including the highest return on capital employed and net sales in the last quarter, alongside a notable increase in institutional holdings, have contributed to the stock's upward movement. However, the company also faces challenges, such as a negative book value and high debt levels, which may raise concerns among investors.
Broader market context indicates that GMR Airports has outperformed the benchmark Sensex in the short term, with a weekly return of 3.41% compared to the Sensex's 1.24%. This suggests that the stock is gaining traction relative to the broader market, likely driven by rising investor participation and liquidity, as evidenced by a significant increase in delivery volume. Despite the positive short-term performance, the company’s long-term fundamentals remain a concern due to its negative book value and poor growth metrics over the past five years, which could impact investor sentiment moving forward.