Why is Elixir Capital falling/rising?

As of 17-Jul, Elixir Capital Ltd's stock price is currently at 118.55, reflecting an increase of 3.2, or 2.77%. The stock has been gaining momentum recently, with a consecutive gain over the last two days resulting in an overall return of 8.26% during this period. It opened with a gain of 3.16% today and reached an intraday high of Rs 119.85. Despite its recent positive performance, the stock has a mixed outlook; it has generated a return of 9.46% over the past year, but its profits have declined by 36.5%. The company is trading at a premium compared to its peers, which may attract some investors, but its operating losses and weak long-term fundamentals raise concerns. In the broader market context, Elixir Capital's short-term performance has outperformed the Sensex, which declined by 1.12% over the past week while Elixir fell by only 0.84%. This indicates that the stock is showing relative strength compared to the benchmark. However, the company's significant year-to-date decline of 64.84% contrasts sharply with the Sensex's gain of 5.27%, highlighting ongoing challenges. The rising investor participation and liquidity suggest some positive sentiment, but the underlying issues of operating losses and negative financial results could temper enthusiasm moving forward.