Why is Omnitex Industri falling/rising?

As of 09-Jul, Omnitex Industries (India) Ltd is experiencing a significant rise in its stock price, currently at 463.95, which reflects an increase of 70.95 or 18.05%. The stock has recently hit a new 52-week and all-time high of Rs. 469.9 today, outperforming its sector by 18.06%. Over the last two days, the stock has gained 33.51%, although it opened with a loss of 2.54% today. Despite this initial dip, the stock has shown strong performance over various periods, with a remarkable 189.97% return over the past year, significantly outpacing the market's return of 3.96%. However, it is important to note that the company is facing challenges, including operating losses and weak long-term fundamental strength, which could impact investor sentiment.
In the broader market context, Omnitex Industries has outperformed the benchmark Sensex, which only saw a modest increase of 0.15% over the past week. The stock's volatility today, with an intraday range of Rs. 86.9 and a high volatility of 10.19%, indicates active trading and investor interest. While the stock has shown impressive short-term gains, the underlying issues such as negative EBITDA and weak ability to service debt may pose risks for long-term investors. Thus, while the stock is currently rising, its future performance may be influenced by these fundamental weaknesses.