Why is Nidhi Granites falling/rising?

As of 25-Aug, Nidhi Granites Ltd is experiencing a rise in its stock price, currently at Rs. 289.00, reflecting an increase of 5.5 (1.94%). The stock has reached a new 52-week high today and has shown strong performance, gaining 14.68% over the last seven days. It has consistently outperformed its sector by 1.2% today and is trading above its moving averages across various timeframes. The company has demonstrated impressive growth metrics, including a 174.53% annual increase in net sales and a significant operating profit growth of 43.07%. However, there are concerns regarding the high valuation of the stock, as it trades at a premium compared to its peers, and 40.26% of promoter shares are pledged, which could pose risks in a declining market.
In the broader market context, Nidhi Granites has significantly outperformed the benchmark Sensex, with a 10.31% return over the past week compared to the Sensex's 0.45%. Over the last month, the stock has risen by 30.77%, while the Sensex has only increased by 0.21%. This strong performance indicates that investor sentiment remains positive towards Nidhi Granites despite the noted risks, such as high promoter pledging and expensive valuations. The company's ability to generate substantial returns over the long term further supports its upward price movement in the current market environment.