Why is Saffron Industri falling/rising?

As of 18-Jul, Saffron Industries Ltd is experiencing a price increase, currently at Rs. 19.59, which reflects a rise of 0.38 or 1.98%. The stock has reached a new 52-week high today and has been on a positive trajectory, gaining for the last 12 days with a total return of 48.07% during this period. Additionally, the stock has outperformed its sector by 2.31%. Over the past year, Saffron Industries has generated impressive returns of 156.08%, significantly outperforming the broader market, as evidenced by its 299.80% return over the last three years. However, it is important to note that the company has a negative book value and a weak long-term fundamental strength, which raises concerns about its sustainability despite recent positive performance.
In the broader market context, Saffron Industries' recent short-term performance stands in stark contrast to the Sensex, which has declined by 0.90% over the past week. While the stock has shown remarkable gains, the overall market has not followed suit, indicating a potential divergence in investor sentiment. Despite the company's strong quarterly results and majority ownership by promoters, the high debt levels and negative book value suggest that investors should remain cautious. The stock's liquidity appears adequate for trading, but the significant drop in delivery volume indicates a potential decrease in investor participation, which could impact future price movements.