Why is Nidhi Granites falling/rising?

As of 28-Aug, Nidhi Granites Ltd is experiencing a rise in its stock price, currently at 300.00, which reflects an increase of 5.25 or 1.78%. The stock has recently hit a new 52-week high of Rs.300.6 and has been on a consecutive gain streak for the last nine days, resulting in a total return of 19.05% during this period. Additionally, the stock has outperformed its sector by 1.82% today and has shown impressive returns over various time frames, including a 33.21% increase over the past month and an 81.82% increase over the past year. Positive factors contributing to this upward movement include high management efficiency with a return on equity (ROE) of 22.06%, a low debt-to-equity ratio, and strong growth in net sales and operating profit.
In the broader market context, Nidhi Granites has significantly outperformed the benchmark Sensex, which has declined by 2.34% over the past week while the stock itself has risen by 7.93%. This trend of outperformance is consistent across longer periods, with the stock achieving an 81.82% return over the past year compared to the Sensex's decline of 2.08%. However, there are risks to consider, such as the stock's high valuation with a price-to-book ratio of 16.1 and a significant portion of promoter shares being pledged, which could exert downward pressure in a falling market. Despite these risks, the stock's strong performance metrics and growth prospects appear to be driving its current rise.