Why is Elixir Capital falling/rising?

As of 10-Jul, Elixir Capital Ltd is currently priced at 119.55, reflecting an increase of 0.55, or 0.46%. The stock has shown a positive trend, gaining for the last three days with a total return of 3.06% during this period. It has outperformed its sector by 0.33% today. Over the past week, the stock has risen by 1.36%, and over the last month, it has increased by 2.18%. However, despite these short-term gains, the company has reported a significant decline in profits, with a 36.5% drop, and is experiencing operating losses, which raises concerns about its long-term fundamental strength. The stock is trading at a premium compared to its peers, with a price-to-book value of 1.2, indicating an attractive valuation, but this is juxtaposed with a substantial year-to-date decline of 64.55%.
In the broader market context, Elixir Capital's recent performance contrasts with the Sensex, which has seen a slight decline of 0.06% over the past week. While the stock has outperformed the benchmark in the short term, its year-to-date performance remains significantly lower than the market average, which has risen by 6.46%. The stock's ability to generate a return of 14.62% over the past year is notable, especially when compared to the BSE500's return of only 1.46%. However, the falling investor participation, as indicated by a 6.76% drop in delivery volume, suggests a potential lack of confidence among investors, which could impact future price movements.