Why is Niraj Ispat Ind. falling/rising?

As of 07-Jul, Niraj Ispat Industries Ltd is experiencing a price increase, currently at Rs. 554.90, which reflects a rise of 26.4 or 5.0%. The stock has recently hit a new 52-week and all-time high, outperforming its sector by 5.74%. Over the past week, the stock has shown a remarkable return of 27.59%, and it has generated an impressive 189.92% return over the past year, significantly surpassing the BSE500 market returns of 1.74%. However, despite this strong performance, there are concerns regarding the company's long-term fundamental strength, as indicated by a negative CAGR growth in operating profits over the last five years and a weak EBIT to interest ratio.
In the broader market context, while Niraj Ispat Industries Ltd has outperformed the Sensex in the short term, the overall market has shown a slight decline of 0.22% in the past week. The stock's liquidity appears adequate, but there has been a notable drop in investor participation, with a 100% decrease in delivery volume on July 4. This decline in participation could raise concerns about the sustainability of the stock's upward movement. Additionally, the company's high valuation compared to its peers and low profitability metrics may pose risks for future performance, despite its recent gains.