Why is Vishal Mega Mart falling/rising?

As of 11-Aug, Vishal Mega Mart Ltd's stock price is rising, currently at Rs 142.05, reflecting an increase of Rs 3.05 or 2.19%. The stock has shown a positive trend today, having outperformed its sector by 1.86% and marking a gain after three consecutive days of decline. It is also close to its 52-week high, just 4.96% away from Rs 149.1. Over the past month, the stock has appreciated by 6.36%, while the year-to-date return stands at an impressive 33.63%. The company demonstrates strong fundamentals, with a low Debt to EBITDA ratio of 0.57 times and healthy long-term growth rates in net sales and operating profit. However, there are concerns regarding promoter confidence, as they have reduced their stake by 20.33% in the previous quarter, which may indicate a lack of confidence in the company's future.
In the broader market context, Vishal Mega Mart's short-term performance contrasts with the Sensex, which has declined by 0.51% over the past week. This suggests that the stock is gaining traction despite a generally unfavorable market environment. The rising investor participation, evidenced by an increase in delivery volume, further supports the stock's upward movement. While the stock's valuation appears expensive with a ROCE of 12.9 and a high enterprise value to capital employed ratio, the overall positive growth indicators and recent performance suggest that investors may still see potential in the company, despite the mixed signals from promoter activity.