Why is Niraj Ispat Ind. falling/rising?

As of 24-Jun, Niraj Ispat Industries Ltd is experiencing a price increase, with its current price at 375.75, reflecting a rise of 17.85 or 4.99%. The stock has reached a new 52-week and all-time high today, outperforming its sector by 4.48%. Over the past week, the stock has shown a remarkable return of 27.57%, and in the last month, it has increased by 40.65%. Despite this strong performance, there are concerns regarding falling investor participation, as the delivery volume has dropped significantly by 98.04% against the 5-day average. Additionally, while the stock has generated a substantial return of 96.32% over the past year, the company's long-term fundamentals are weak, with a negative CAGR growth in operating profits and a low return on equity, indicating potential profitability issues.
In the broader market context, the stock's recent performance stands in stark contrast to the benchmark, with the Sensex only increasing by 0.77% over the same week and month periods. This significant outperformance highlights the stock's appeal among investors despite its underlying financial challenges. The company's ability to maintain such high returns, while facing weak fundamentals, suggests that market sentiment may be driving the price higher, even as concerns about its long-term viability linger.