Why is Konark Synth falling/rising?

As of 23-Jul, Konark Synthetic Ltd's stock price is rising, currently at 34.08, reflecting an increase of 1.62 or 4.99%. The stock has shown strong performance today, outperforming its sector by 3.8% and opening with a gain of 4.99%. It has consistently traded at this price level throughout the day, reaching an intraday high of Rs 34.08. Over the past week, the stock has increased by 4.57%, and in the last month, it has risen by 16.51%. Despite a year-to-date decline of 2.91%, the stock has generated a remarkable return of 49.60% over the past year and has outperformed the BSE500 over the last three years. However, it is important to note that the company has faced operating losses and a significant drop in profits, which may raise concerns about its long-term fundamental strength.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has only increased by 0.11% over the past week and 1.01% over the past month. This indicates that Konark Synthetic Ltd is experiencing a strong upward momentum relative to the overall market. The stock's attractive valuation, trading at a discount compared to its peers, and rising investor participation, evidenced by a 342.7% increase in delivery volume, contribute positively to its price movement. However, the company's high debt to EBITDA ratio and low return on equity suggest underlying weaknesses that could impact its future performance. Overall, while the stock is currently rising, investors should remain cautious due to the company's financial challenges.