Why is Elitecon Inter. falling/rising?

As of 08-Jul, Elitecon International Ltd is experiencing a price increase, currently at Rs 84.67, reflecting a rise of Rs 4.03 or 5.0%. The stock has reached a new 52-week high today and has been on a positive trajectory, gaining for the last 12 consecutive days with a total return of 71.43% during this period. It opened with a gain of 5% and has consistently traded at this price level. The stock has significantly outperformed its sector by 5.69% today, and its returns over the past week and month stand at 27.59% and 48.27%, respectively. The company has reported outstanding results, including a 170.65% growth in net sales and positive results for the last five consecutive quarters, contributing to investor confidence. However, there are concerns regarding its high valuation, with a price-to-book value of 84.5, which may deter some investors.
In the broader market context, the Sensex has shown minimal movement, with a return of just 0.02% over the past week, highlighting Elitecon's strong performance relative to the benchmark. The stock's year-to-date return of 732.96% starkly contrasts with the Sensex's 7.13%, indicating that Elitecon is significantly outperforming the market. Despite a decline in delivery volume by 47.11% against the five-day average, the high institutional holdings at 38.41% suggest that informed investors are backing the stock, which may provide additional stability and support for its rising price.