Why is Gravity (India) falling/rising?

As of 29-Jul, Gravity (India) Ltd's stock price is currently at 6.38, reflecting an increase of 0.2 or 3.24%. The stock has shown strong performance in both the short and long term, with a 1-week return of 2.08% and a 1-month return of 6.33%, significantly outperforming the Sensex, which has declined by 1.03% and 3.24% respectively over the same periods. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. However, there are concerns regarding falling investor participation, as the delivery volume has decreased by 71.45% compared to the 5-day average. While the stock has generated a notable 36.91% return over the past year, it faces challenges such as operating losses and a weak long-term fundamental strength, with net sales declining at an annual rate of 40.99%.
In the broader market context, Gravity (India) has outperformed the BSE500 index in the last three years, one year, and three months, showcasing its market-beating performance. Despite this, the stock's recent rise is tempered by negative factors, including a reduction in promoter confidence, as they have decreased their stake by 13.47% in the previous quarter, which may signal concerns about the company's future. The stock's risk profile is also elevated due to negative EBITDA and poor growth metrics, which could impact investor sentiment moving forward. Overall, while the stock is currently rising, the underlying financial challenges and reduced promoter confidence may pose risks to its continued upward trajectory.