Why is Sh. Ajit Pulp falling/rising?

As of 14-Aug, Shree Ajit Pulp and Paper Ltd's stock price is rising, currently at Rs. 243.25, reflecting an increase of Rs. 28.25 or 13.14%. The stock has recently hit a new 52-week high of Rs. 249.9 and has outperformed its sector by 14.19%. Over the past two days, the stock has gained nearly 20% despite opening down by 4.65% today. The company has shown strong financial performance, with a 76.31% growth in net profit and positive results for the last two consecutive quarters, contributing to its attractive valuation. However, the company faces risks due to a high Debt to EBITDA ratio of 4.04 times, indicating a low ability to service debt, which could impact investor sentiment.
In the broader market context, Shree Ajit Pulp and Paper Ltd has significantly outperformed the Sensex, with a 1-week return of +24.04% compared to a slight decline of -0.03% for the benchmark. This strong performance in the short term highlights the stock's resilience and investor confidence, particularly in light of its recent financial results and rising investor participation, as evidenced by a 184.23% increase in delivery volume. While the stock's long-term growth has been modest, the recent surge in price reflects a positive market reaction to its financial health and operational efficiency, contrasting with the broader market trends.