Why is E-Land Apparel falling/rising?

As of 16-Jul, E-Land Apparel Ltd's stock price is rising, currently at Rs. 31.65, reflecting an increase of 0.62 or 2.0%. The stock has reached a new 52-week high today and has been on an upward trend, gaining for the last nine consecutive days with a total return of 19.39% during this period. It is trading above all key moving averages, indicating strong momentum. The company has also reported impressive financial results, including a 123.96% growth in net profit and record highs in net sales and earnings per share over the last three quarters, contributing positively to investor sentiment and stock performance.
In the broader market context, E-Land Apparel has significantly outperformed the benchmark Sensex, which has declined by 1.08% over the past week while the stock itself has surged by 10.32%. This strong relative performance is indicative of robust investor confidence in the company, particularly in light of its exceptional returns of 258.84% over the past year compared to the Sensex's 2.38%. The rising investor participation, evidenced by a 47.16% increase in delivery volume, further supports the stock's upward trajectory, suggesting that market participants are increasingly optimistic about the company's future prospects.