Why is Elantas Beck falling/rising?

As of 24-Jun, Elantas Beck India Ltd is experiencing a price increase, with its current price at 11,494.95, reflecting a rise of 24.55 (0.21%). The stock has been gaining for the last four days, accumulating a total return of 4.88% during this period. It opened with a gain of 3.43% today and reached an intraday high of Rs 11,864.4. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there is a noted decline in investor participation, with delivery volume falling by 36.84% against the 5-day average. The company benefits from high management efficiency, as evidenced by a return on equity (ROE) of 15.14%, and maintains a low debt-to-equity ratio, which supports its stable financial position.
In the broader market context, Elantas Beck's short-term performance has significantly outpaced the benchmark Sensex, with a 1-week return of 3.59% compared to the Sensex's 0.58%. Over the past month, the stock has surged by 21.13%, while the Sensex has only increased by 0.41%. This strong relative performance suggests that investor sentiment towards Elantas Beck is currently favorable, despite its year-to-date decline of 10.20% compared to the Sensex's gain of 5.01%. The stock's liquidity remains adequate for trading, which may also contribute to its rising price amidst a generally positive sentiment in the short term.