Why is Khaitan (India) falling/rising?

As of 22-Sep, Khaitan (India) Ltd's stock price is currently at 130.90, reflecting an increase of 0.9, or 0.69%. The stock has shown strong performance, outperforming its sector by 1.24% today and trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has risen by 6.86%, and it has delivered a remarkable 51.40% return year-to-date. The company has reported positive results for the last six consecutive quarters, with a higher profit after tax of Rs 5.77 Cr and record net sales of Rs 29.66 Cr for the quarter. However, there are concerns regarding its long-term fundamental strength, as indicated by a low return on capital employed (ROCE) of 5.58% and a high debt-to-EBITDA ratio of 4.72 times, which could impact investor sentiment.
In the broader market context, Khaitan (India) has significantly outperformed the benchmark Sensex, which has only increased by 0.46% over the past week, while Khaitan's stock has surged by 6.86%. This trend continues over the longer term, with Khaitan achieving a 35.20% return over the past year compared to the Sensex's decline of 2.82%. Despite these positive short-term movements, the stock's valuation appears expensive relative to its peers, and the high percentage of pledged promoter shares (32.85%) may exert downward pressure in a falling market. Thus, while the stock is currently rising, underlying concerns about its long-term growth and financial health could pose risks moving forward.