Why is Ace Soft. Exp. falling/rising?

As of 22-Jul, Ace Software Exports Ltd is experiencing a rise in its stock price, currently at Rs 257.95, reflecting an increase of Rs 3.35 or 1.32%. The stock has shown a positive performance today, outperforming its sector by 1.54% and achieving a consecutive gain over the last two days with a total return of 1.66% during this period. Despite a recent decline in delivery volume, the company has reported strong financial results over the past six quarters, with significant growth in both profit after tax and net sales. Additionally, the promoters have increased their stake in the company, indicating confidence in its future prospects, which has likely contributed to the upward price movement.
In the broader market context, the stock's short-term performance of +1.66% over the past week contrasts with the Sensex, which has declined by 0.47% during the same period. While the stock has generated a notable return of 35.66% over the past year, it is important to note that its year-to-date performance shows a decline of 18.87%, suggesting volatility. The company's low return on equity and high price-to-book value may raise concerns about its valuation compared to peers, but the recent positive financial results and increased promoter confidence appear to be driving the current upward trend in the stock price.