Why is KMG Milk Food falling/rising?

As of 10-Jul, KMG Milk Food Ltd's stock price is rising, currently at Rs. 50.49, reflecting an increase of 2.24 (4.64%). The stock has recently hit a new 52-week and all-time high, and it has outperformed its sector by 3.69%. Over the past week, KMG Milk Food has gained 9.38%, and it has shown strong performance with a year-to-date return of 48.98%. The stock is trading above all key moving averages, indicating a positive trend. Additionally, promoter confidence has increased with a 0.95% rise in their stake, suggesting optimism about the company's future, despite concerns regarding its long-term fundamentals, including a negative book value and high debt levels.
In the broader market context, KMG Milk Food's recent performance stands in stark contrast to the Sensex, which has seen a slight decline of 0.06% over the past week. This divergence highlights the stock's strong short-term performance relative to the benchmark. While the stock has generated significant returns over the past year, it is important to note that its profits have fallen sharply, raising concerns about sustainability. Nonetheless, the rising investor participation and positive sentiment from promoters contribute to the stock's upward movement in the current market environment.