Why is Saffron Industri falling/rising?

As of 15-Jul, Saffron Industries Ltd is experiencing a price increase, currently at Rs. 18.48, reflecting a rise of 0.36 or 1.99%. The stock has hit a new 52-week high today and has been on a positive trajectory, gaining for the last nine days with an impressive return of 39.68% during this period. Additionally, the company has reported strong financial results for the last three consecutive quarters, with significant increases in PBDIT, PBT, and PAT. Despite this positive performance, the stock faces challenges due to a negative book value and high debt levels, which suggest underlying weaknesses in long-term growth potential.
In the broader market context, Saffron Industries has significantly outperformed the Sensex, with a one-week return of +10.26% compared to the benchmark's -1.36%. The stock has also shown remarkable performance over longer periods, generating a 164.00% return year-to-date and outperforming the BSE500 over the last three years. However, the recent decline in investor participation, indicated by a substantial drop in delivery volume, may raise concerns about the stock's liquidity and sustainability of its upward momentum. Overall, while the stock is rising due to strong recent performance and positive financial results, its long-term outlook is tempered by fundamental weaknesses.