Why is IMEC Services falling/rising?

As of 14-Aug, IMEC Services Ltd is experiencing a price increase, currently at Rs. 204.90, reflecting a rise of 4.0 or 1.99%. The stock has recently hit a new 52-week and all-time high, and it has outperformed its sector by 3.45%. Over the past 21 days, the stock has shown a remarkable gain of 51.16%, with a weekly return of 10.34% and a monthly return of 57.25%. Despite these positive movements, the company faces challenges, including operating losses and a weak long-term fundamental strength, as evidenced by a significant decline in net sales over the past five years. Additionally, 65.48% of promoter shares are pledged, which could exert downward pressure in adverse market conditions.
In the broader market context, IMEC Services has significantly outperformed the Sensex, which has seen a slight decline of 0.03% over the past week. While the stock has generated impressive returns year-to-date at 232.14%, the overall market has only increased by 3.15%. This stark contrast highlights the stock's strong performance relative to the benchmark, despite concerns regarding its long-term growth potential and the risks associated with high promoter pledging. The falling investor participation, indicated by a decrease in delivery volume, may also suggest caution among investors, which could impact future price movements.