Why is IMEC Services falling/rising?

As of 26-Sep, IMEC Services Ltd's stock is rising, with a current price of 276.90, reflecting an increase of 13.15 (4.99%). The stock has recently reached a new 52-week and all-time high of Rs. 276.9 today. It has shown impressive performance, gaining 78.82% over the last 12 days and outperforming its sector by 6.96%. The stock's returns have been remarkable, with a 1-year increase of 1492.29% and a year-to-date rise of 348.86%. However, despite these positive indicators, the company faces challenges such as operating losses and a weak long-term fundamental strength, highlighted by a poor EBIT to Interest ratio of -13.73 and a significant portion of promoter shares being pledged.
In the broader market context, IMEC Services has significantly outperformed the benchmark, with a 1-week return of +27.57% compared to the Sensex's -2.66%. This trend of outperformance is consistent over various periods, including a 3-year return of +10309.77% against the benchmark's +40.74%. While the stock's recent gains are impressive, the falling investor participation, as indicated by a 73.93% drop in delivery volume, raises concerns about sustainability. The stock's high returns juxtaposed with its negative EBITDA and the risks associated with pledged shares suggest that while the stock is currently rising, underlying weaknesses could pose risks in the future.