Why is Elixir Capital falling/rising?

As of 02-Jul, Elixir Capital Ltd's stock price is currently at 117.75, reflecting an increase of 2.75 or 2.39%. Today, the stock outperformed its sector by 3.62% and opened with a gain of 2.61%, reaching an intraday high of Rs 118. Despite this positive movement, the stock has shown a significant decline year-to-date, down 65.08%, although it has generated a return of 12.30% over the past year. The company's return on equity stands at 17, indicating an attractive valuation with a price-to-book value of 1.2. However, it is trading at a premium compared to its peers, and its profits have fallen by 36.5%, which raises concerns about its long-term fundamental strength.
In the broader market context, Elixir Capital's short-term performance over the past week shows a return of 0.73%, which is slightly below the Sensex's return of 0.79%. While the stock has demonstrated some positive movement today, the overall trend indicates a struggle, particularly with operating losses and a significant drop in net sales. The delivery volume has also decreased by 49.58% against the five-day average, suggesting falling investor participation. These factors, combined with the company's recent negative results and weak long-term fundamentals, contribute to a complex picture of the stock's performance amidst a generally stable market backdrop.