Why is IMEC Services falling/rising?

As of 16-Sep, IMEC Services Ltd's stock price is rising, currently at Rs 187.60, reflecting an increase of Rs 8.9 or 4.98%. The stock has shown strong performance today, outperforming its sector by 4.32% and marking a consecutive gain over the last four days, with a total return of 21.15% during this period. Additionally, the stock opened with a gain of 2.99% and reached an intraday high of Rs 187.6. Over the past year, the stock has generated an impressive return of 1489.83%, significantly outperforming the BSE500 index. However, despite these positive indicators, the company faces challenges such as operating losses and a weak ability to service its debt, which could impact long-term investor confidence.
In the broader market context, IMEC Services has outperformed the Sensex significantly in the short term, with a 1-week return of 15.09% compared to the Sensex's 1.58%. This strong short-term performance is contrasted by a decline of 8.44% over the past month, indicating volatility. While the stock's long-term performance is remarkable, with returns of 6259.32% over three years, the high percentage of pledged promoter shares (65.48%) raises concerns about potential downward pressure in adverse market conditions. Overall, while the stock is currently rising, its long-term fundamentals and risks associated with pledged shares may temper investor enthusiasm.