Why is Elitecon Inter. falling/rising?

As of 25-Aug, Elitecon International Ltd's stock price is currently at Rs 382.45, reflecting a decline of Rs 20.1 or 4.99%. The stock recently reached a new 52-week high of Rs 422.65 but has since fallen after a remarkable 20-day streak of gains. Despite this drop, the stock has shown impressive performance over the past week and month, with returns of 15.46% and 139.75%, respectively. The company has reported outstanding financial results, including a 349.56% growth in net profit and record net sales, which have contributed to high institutional holdings at 38.26%. However, the stock is considered very expensive with a high Price to Book Value of 381.5, and its profits have stagnated over the past year, which may be causing some investor caution.
In the broader market context, the stock's recent performance has significantly outpaced the Sensex, which has only increased by 0.45% over the past week and 0.21% over the past month. This stark contrast highlights the stock's volatility and investor interest, particularly given the substantial rise in delivery volume. However, the stock's underperformance against its sector by 5% today suggests that while it has been a strong performer overall, the recent decline may be a correction after a period of rapid gains. The combination of high valuations and stagnant profits may be contributing to the current price drop, despite the positive financial results and strong institutional backing.