Why is Spice IslandsInd falling/rising?

As of 18-Jul, Spice Islands Industries Ltd is experiencing a price increase, with the current price at Rs 49.08, reflecting a rise of Rs 2.18 or 4.65%. The stock has shown strong performance today, outperforming its sector by 5.49% and has gained consecutively for the last three days, accumulating a total return of 9.58% in this period. It opened with a significant gain of 4.48% and reached an intraday high of Rs 49.23. Despite this positive movement, the stock has seen a decline in investor participation, with delivery volume dropping by 94.81% against the 5-day average. The company has reported positive quarterly results, with the highest PAT and EPS figures, and it has consistently outperformed the BSE500 over the past three years. However, it also faces challenges such as a negative book value and high debt levels, which could impact long-term growth.
In the broader market context, Spice Islands Industries Ltd has outperformed the Sensex, with a 1-week return of +3.61% compared to the benchmark's -0.90%. Over the past month, the stock has risen by 11.55%, while the Sensex has only increased by 0.38%. This indicates that the stock is gaining traction relative to the market, despite the underlying concerns regarding its long-term fundamentals and high debt levels. The stock's strong short-term performance, coupled with its recent positive earnings report, suggests that investor sentiment remains cautiously optimistic, even as some fundamental risks persist.