Why is Nidhi Granites falling/rising?

As of 22-Aug, Nidhi Granites Ltd's stock price is rising, currently at Rs. 283.50, reflecting an increase of Rs. 5.55 or 2.0%. The stock has reached a new 52-week high today and has been on a consecutive gain streak for the last six days, accumulating a total return of 12.5% during this period. Additionally, the stock has outperformed its sector by 3.26%. Over the past week, Nidhi Granites has shown a remarkable return of 10.31%, and it has significantly outperformed the benchmark Sensex, which has only increased by 0.88%. Positive factors contributing to this rise include high management efficiency, a low debt-to-equity ratio, and impressive growth in net sales and operating profit. However, the stock is trading at a premium compared to its peers, and a significant portion of promoter shares is pledged, which could pose risks in a declining market.
In the broader market context, Nidhi Granites' strong short-term performance stands in stark contrast to the Sensex, which has seen a slight increase of only 0.88% over the same period. The company's year-to-date return of 25.94% also surpasses the Sensex's 4.05% gain, indicating robust market confidence in Nidhi Granites despite some risks associated with its valuation and pledged shares. Overall, the stock's impressive performance in both the short and long term, coupled with positive financial results, has contributed to its rising price, even as some caution remains due to the pledged shares and high valuation.