Why is Niyogin Fintech falling/rising?

As of 26-Jun, Niyogin Fintech Ltd's stock price is rising, currently at Rs 63.55, reflecting an increase of Rs 4.05 or 6.81%. The stock has shown strong performance today, outperforming its sector by 5.48% and achieving a consecutive gain over the last four days, with a total return of 18.34% during this period. It opened with a gain of 2.18% and reached an intraday high of Rs 64.7, indicating positive momentum. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, and there has been a significant increase in investor participation, with delivery volume rising by 258.19% compared to the 5-day average. Additionally, the company has reported positive results for the last three consecutive quarters, with net sales growing by 68.05%, which may contribute to the stock's upward movement despite its negative earnings per share.
In the broader market context, Niyogin Fintech's short-term return of 18.17% over the past week significantly outpaces the Sensex's return of 2.94%, indicating strong relative performance. However, it is important to note that the stock has underperformed over the longer term, with a year-to-date return of -12.14% compared to the Sensex's 7.19%. While high institutional holdings at 21.19% suggest confidence from more sophisticated investors, the company faces challenges due to weak long-term fundamentals, including an average return on equity of 0% and negative EBITDA. Despite these concerns, the recent positive sales growth and increased investor interest have contributed to the stock's current rise.