Why is Spice IslandsInd falling/rising?

As of 04-Aug, Spice Islands Industries Ltd is experiencing a price increase, currently at 52.25, reflecting a change of 0.25 or 0.48% upward. The stock has shown strong performance recently, gaining 6.07% over the last three days and outperforming the Sensex with a 7.29% increase over the past week, while the Sensex only rose by 0.16%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 25.09% compared to the 5-day average. Positive quarterly results, including the highest profit after tax and earnings per share, further bolster investor confidence, despite the company facing challenges such as a negative book value and high debt levels.
In the broader market context, Spice Islands Industries Ltd has significantly outperformed the benchmark indices over various periods, including a 24.61% year-to-date return compared to the Sensex's 3.69%. This strong performance is particularly notable given the stock's consistent returns over the last three years, where it has outperformed the BSE500 annually. However, the stock's high debt and negative EBITDA present risks that could affect its long-term growth potential. Despite these concerns, the current upward movement in the stock price appears to be driven by recent positive results and strong short-term performance relative to the broader market.