Why is Sh. Ajit Pulp falling/rising?

As of 24-Sep, Shree Ajit Pulp and Paper Ltd's stock price is rising, currently at Rs 243.00, reflecting an increase of Rs 2.95 or 1.23%. The stock has shown a positive performance today, having outperformed its sector by 1.42% and gaining for the last two consecutive days, with a total return of 1.65% during this period. It opened with a gain of 2.02% and reached an intraday high of Rs 244.9. Over the past month, the stock has increased by 4.83%, while its year-to-date return stands at 16.83%. The company has reported strong financial results, including a 76.31% growth in net profit and a significant increase in net sales, which has positively influenced investor sentiment. However, there are concerns regarding its high debt-to-EBITDA ratio, indicating a low ability to service debt, which could pose risks in the long term.
In the broader market context, the stock has outperformed the benchmark Sensex, which has declined by 1.18% over the past week, while Shree Ajit Pulp's stock has risen by 0.81%. This trend continues as the stock has generated a return of 12.47% over the past year, contrasting sharply with the Sensex's negative return of 3.77%. Despite the overall market's struggles, Shree Ajit Pulp's strong financial performance and attractive valuation relative to its peers have contributed to its rising stock price, making it a favorable option for investors amidst a challenging market environment.