Why is Nidhi Granites falling/rising?

As of 21-Aug, Nidhi Granites Ltd is experiencing a price increase, currently at Rs. 277.95, reflecting a rise of 5.45 (2.0%). The stock has reached a new 52-week high today and has been on a consecutive gain streak for the last five days, accumulating a total return of 10.3% during this period. Additionally, the stock has outperformed its sector by 2.51% today. Over the past week, Nidhi Granites has shown a robust performance with an 8.15% increase, and it has significantly outperformed the benchmark Sensex, which only rose by 1.74%. The company's strong financial metrics, including a high return on equity (ROE) of 22.06% and a low debt-to-equity ratio of 0.01, contribute positively to its valuation. However, the stock is trading at a premium compared to its peers, which may raise concerns among investors.
In the broader market context, Nidhi Granites has demonstrated impressive long-term performance, with a 64.96% return over the past year, significantly surpassing the Sensex's 1.35% increase during the same period. Despite this strong performance, there are risks associated with the stock, including a high percentage of pledged promoter shares, which could exert downward pressure in a declining market. Furthermore, while the stock's recent gains are notable, the falling investor participation, indicated by an 82.72% drop in delivery volume, may suggest caution among traders. Overall, the stock's current rise is supported by strong fundamentals and recent positive results, but potential risks remain that could affect future performance.