Why is Asian Energy falling/rising?

As of 18-Aug, Asian Energy Services Ltd is experiencing a price increase, currently at Rs 347.00, reflecting a rise of Rs 14.35 or 4.31%. The stock has outperformed its sector by 3.97% today, reaching an intraday high of Rs 347.5. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Over the past month, the stock has gained 15.32%, contrasting with a decline of 0.59% in the benchmark Sensex. The company has demonstrated consistent positive performance, with net sales growing by 84.89% and profit after tax increasing by 56.78% over the last six months. However, it faces challenges with a long-term operating profit decline of -1.29% annually over the past five years, and its return on equity is relatively low at 10.6%.
In the broader market context, while Asian Energy has shown a strong short-term return of 15.32% over the past month, the Sensex has slightly outperformed it with a return of 0.83% over the same period. Despite the stock's recent gains, the lack of domestic mutual fund investment, which stands at 0%, may indicate a lack of confidence among institutional investors regarding its valuation or business prospects. The stock's price-to-book value of 3.9 suggests it is considered expensive relative to its peers, despite trading at a discount compared to historical valuations. Overall, while the company has shown strong recent performance, concerns about long-term growth and investor participation may temper enthusiasm in the broader market.