Why is PSP Projects falling/rising?

As of 03-Nov, PSP Projects Ltd is experiencing a price increase, currently at Rs 973.10, which reflects a rise of Rs 43.25 or 4.65%. The stock has recently hit a new 52-week and all-time high of Rs 995.8, demonstrating strong performance with an intraday high increase of 7.09%. Over the past week, the stock has risen by 3.84%, and it has shown impressive returns of 58.45% over the past year, significantly outperforming the BSE500 index during the same period. However, it is important to note that while the stock's valuation appears attractive with a low Debt to Equity ratio and a favorable Enterprise value to Capital Employed, the company's profits have decreased by 69.3% over the past year, which could raise concerns among investors.
Broader Market Context: In the context of the broader market, PSP Projects has outperformed the Sensex, which has declined by 0.94% over the past week. This strong performance is indicative of the stock's resilience and appeal to investors, particularly as it has consistently outperformed the benchmark over various time frames, including 1 month and 3 years. Despite a notable drop in investor participation, with delivery volume falling by 80.05% against the 5-day average, the stock remains liquid enough for trading, suggesting that investor interest may still be present. Overall, the combination of strong recent performance, attractive valuation metrics, and the ability to outperform the market contributes to the stock's rising price.