Why is Narmada Agrobase falling/rising?

As of 21-Jul, Narmada Agrobase Ltd's stock price is rising, currently at Rs 22.71, reflecting an increase of Rs 1.52 or 7.17%. The stock has shown strong performance recently, gaining 33.2% over the last six days and outperforming its sector by 7.6% today. It opened with a notable gain of 5.19% and reached an intraday high of Rs 23.3, which is a 9.96% increase. The company has reported positive results for the last five consecutive quarters, with net sales growing by 26.05% and a higher profit after tax of Rs 3.07 crore. Additionally, rising promoter confidence, indicated by a 1.19% increase in their stake to 50.3%, suggests a strong belief in the company's future prospects.
In the broader market context, Narmada Agrobase's short-term returns significantly outpace the benchmark, with a 30.29% increase over the past week compared to a negligible change of -0.06% in the Sensex. This trend is further supported by the stock's performance over the last month, where it has risen by 35.66%, while the Sensex has declined by 0.25%. Despite these positive movements, there are concerns regarding the company's long-term fundamental strength, including a high debt to EBITDA ratio and low profitability per unit of shareholders' funds. However, the current momentum and recent positive financial results appear to be driving the stock's upward trajectory in the short term.