Why is KIOCL falling/rising?

As of 08-Sep, KIOCL Ltd's stock price is rising, currently at Rs 472.85, reflecting an increase of Rs 20.55 or 4.54%. The stock has recently hit a new 52-week high of Rs 494.95 and has shown strong performance, outperforming its sector by 4.84%. Over the past week, KIOCL has gained 14.71%, and in the last month, it has risen by 36.86%. However, despite these positive movements, the company has declared negative results for the last six consecutive quarters, with a significant decline in net sales and a negative profit after tax. This weak financial performance, coupled with operating losses and a low return on equity, raises concerns about the company's long-term fundamental strength.
In the broader market context, KIOCL's recent performance stands in stark contrast to the benchmark Sensex, which has only increased by 0.53% over the past week. While KIOCL has demonstrated impressive returns over the last three years, outperforming the BSE500 in each of the last three annual periods, the stock's current liquidity is somewhat concerning, with a notable drop in delivery volume. The limited participation from domestic mutual funds, holding only 0.01% of the company, may indicate a lack of confidence in the stock's valuation or business prospects, despite its recent price rise.