Why is eClerx Services falling/rising?

As of 04-Aug, eClerx Services Ltd is experiencing a price increase, currently at Rs 4,008.15, reflecting a rise of Rs 208.95 or 5.5%. The stock has recently hit a new 52-week and all-time high of Rs 4,193.85, showcasing a strong performance today with a 10.39% intraday high. Over the past week, the stock has gained 6.44%, and it has outperformed the sector by 1.93%. Additionally, eClerx has demonstrated impressive long-term returns, with a 64.24% increase over the past year and a staggering 1,184.74% over the last five years. The company benefits from high management efficiency, a low debt-to-equity ratio, and significant institutional holdings, which have increased by 0.96% in the last quarter, indicating strong confidence from knowledgeable investors.
In the broader market context, eClerx's short-term performance of 6.44% over the past week significantly outpaces the Sensex, which has only risen by 0.16%. The BPO/ITeS sector has also seen gains of 3.42%, contributing to the positive sentiment surrounding eClerx. Despite a slight decline in investor participation, as indicated by a 10.99% drop in delivery volume against the five-day average, the stock remains liquid enough for trading. Overall, the combination of strong recent performance, solid fundamentals, and favorable market conditions has contributed to the upward movement of eClerx Services Ltd's stock price.