Why is Elitecon Inter. falling/rising?

As of 10-Jun, Elitecon International Ltd's stock price is currently at Rs. 609.80, reflecting an increase of Rs. 10.2 or 1.7%. The stock has been on a significant upward trend, gaining 67.71% over the last 11 days and achieving a new 52-week and all-time high of Rs. 629.55 today. It has outperformed its sector by 2.76% and opened with a gain of 4.99%. The stock's performance is impressive, with a year-to-date return of 499.90%, significantly higher than the Sensex's 5.44% during the same period. Additionally, the stock is trading above all key moving averages, indicating strong momentum, and there has been a notable increase in investor participation, with delivery volume rising by 204.35% against the 5-day average.
In the broader market context, Elitecon's short-term performance has vastly outstripped the Sensex, which only gained 2.05% over the past week compared to Elitecon's remarkable 23.59% increase. This stark contrast highlights the stock's strong appeal among investors, likely driven by positive sentiment and robust trading activity. The liquidity of the stock is also favorable, allowing for substantial trading volumes, which can further support its price movement. Overall, the combination of strong recent performance, positive investor sentiment, and favorable trading conditions contributes to the stock's rising trajectory.