Why is Niraj Ispat Ind. falling/rising?

As of 03-Jul, Niraj Ispat Industries Ltd is experiencing a price increase, currently at Rs. 503.35, reflecting a rise of 23.95 (5.0%). The stock has reached a new 52-week and all-time high today, outperforming its sector by 5.46%. Over the past week, the stock has surged by 27.59%, and it has shown remarkable performance with an 88.41% increase over the last month and a staggering 162.98% rise over the past year, significantly outpacing the broader market returns. However, it is important to note that there has been a concerning drop in investor participation, with a delivery volume of 0 on July 2, indicating a potential lack of confidence among investors despite the stock's impressive returns.
In the broader market context, while Niraj Ispat Industries Ltd has outperformed the Sensex, which has declined by 0.56% over the past week, the stock's strong short-term performance contrasts with its long-term fundamental weaknesses. The company has shown a negative CAGR growth in operating profits over the last five years and has a low return on equity, suggesting challenges in profitability. Despite the stock's recent gains, its high valuation compared to peers and weak ability to service debt may raise concerns for investors looking for stability, potentially influencing future price movements.