Why is Elixir Capital falling/rising?

As of 08-Jul, Elixir Capital Ltd is experiencing a price increase, currently at 118.60, reflecting a change of 2.6, or 2.24%. Today's performance indicates that the stock has outperformed its sector by 2.29% and has shown a trend reversal after two consecutive days of decline. The stock reached an intraday high of Rs 119.15, but despite this positive movement, there has been a significant drop in delivery volume, which fell by 77.83% compared to the 5-day average. Over the past year, the stock has generated a return of 18.25%, which is considerably higher than the market average, although it has faced challenges with a 36.5% decline in profits. The company has a return on equity of 17 and is trading at a premium compared to its peers, indicating an attractive valuation despite its operating losses and weak long-term fundamentals.
In the broader market context, Elixir Capital's short-term return of 3.13% over the past week significantly outpaces the Sensex, which has only seen a 0.02% increase. This suggests that while the stock is currently rising, it is doing so in a market that is relatively flat. However, the stock's year-to-date performance shows a stark decline of 64.83%, contrasting with the Sensex's gain of 7.13%, highlighting the volatility and challenges faced by the company. The mixed signals from the stock's recent performance, alongside its weak long-term fundamentals and declining profits, suggest that while there may be short-term gains, the overall outlook remains uncertain.