Why is Niraj Ispat Ind. falling/rising?

As of 25-Jun, Niraj Ispat Industries Ltd is experiencing a price increase, currently trading at Rs. 394.50, which reflects a rise of Rs. 18.75 or 4.99%. The stock has recently hit a new 52-week and all-time high, outperforming its sector by 4.51%. Over the past week, the stock has shown a remarkable return of 27.57%, and it has generated a substantial 106.11% return over the last year, significantly higher than the BSE 500's return of 3.43%. However, despite this strong performance, there are concerns regarding the company's long-term fundamental strength, including a weak CAGR growth in operating profits and a low return on equity, which may temper investor enthusiasm.
In the broader market context, Niraj Ispat Industries Ltd's recent performance stands in stark contrast to the Sensex, which has only increased by 1.74% over the past week. This significant outperformance indicates strong investor interest in the stock, despite a noted decline in delivery volume, suggesting a potential decrease in investor participation. The company's ability to generate returns has been impressive, but its high valuation compared to peers and weak long-term fundamentals may raise caution among investors looking for sustainable growth.