Why is Ecos (India) falling/rising?

As of 21-Jul, Ecos (India) Mobility & Hospitality Ltd is experiencing a price increase, currently at Rs 350.20, reflecting a rise of Rs 29.75 or 9.28%. The stock has shown strong performance today, outperforming its sector by 10.03% and reaching an intraday high of Rs 353.45. Over the past week, the stock has increased by 16.73%, and over the past month, it has risen by 19.93%. The company exhibits high management efficiency with a return on equity (ROE) of 30.73% and a low debt-to-equity ratio, contributing to its healthy long-term growth, as evidenced by a significant annual increase in net sales and operating profit. However, there are concerns regarding its valuation, as it has a relatively high price-to-book value of 9.7, and profits have declined by 5% over the past year, which could be affecting investor sentiment.
Broader market context shows that while Ecos (India) has performed well, the benchmark Sensex has seen a slight decline of 0.06% over the past week and 0.25% over the past month. This indicates that the stock is rising in a generally weak market environment. Additionally, the stock's liquidity remains adequate, although there has been a decrease in delivery volume, suggesting a potential decline in investor participation. Institutional investors have also reduced their stake by 1.46%, which may signal caution among more sophisticated market participants. Overall, the stock's strong performance is juxtaposed against some underlying risks, particularly regarding valuation and investor participation.