Why is Nidhi Granites falling/rising?

As of 20-Aug, Nidhi Granites Ltd's stock price is rising, currently at Rs. 272.50, reflecting an increase of Rs. 5.3 or 1.98%. The stock has recently hit a new 52-week high and has been on a consecutive gain streak for the last four days, resulting in an 8.13% return over that period. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. The company has demonstrated high management efficiency with a return on equity (ROE) of 22.06% and a low debt-to-equity ratio of 0.01 times. Furthermore, the recent quarterly results showed a significant growth in net sales and operating profit, contributing to positive investor sentiment.
In the broader market context, Nidhi Granites has outperformed the Sensex, which has only increased by 1.64% over the past week, while the stock has surged by 8.13%. This strong performance is supported by rising investor participation, with delivery volume increasing significantly. However, there are risks to consider, such as the stock's high valuation relative to peers and the fact that 40.26% of promoter shares are pledged, which could exert downward pressure in a falling market. Despite these concerns, the company's long-term growth prospects and recent performance have contributed to its rising stock price.