Why is Indian Energy Ex falling/rising?

As of 07-Jul, Indian Energy Exchange Ltd is experiencing a price increase, currently at 199.25, reflecting a rise of 1.5 (0.76%). The stock has shown a positive trend, gaining 3.21% over the last four days and outperforming the Sensex in the short term with a 1-week return of +3.18% compared to the benchmark's -0.20%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. However, there is a noted decline in investor participation, with delivery volume falling by 42.71% against the 5-day average. Despite this, the company has demonstrated high management efficiency with a return on equity of 38.92% and has reported positive results for the last three consecutive quarters, contributing to its recent price movement.
In the broader market context, while the stock has performed well in the short term, it has underperformed the Sensex over the past month with a return of -1.48% compared to the benchmark's +1.53%. The stock's valuation appears expensive with a price-to-book value of 15.6, and while it has generated an 8.14% return over the past year, its profits have only increased by 22.3%. This suggests that although institutional holdings are strong at 50.27% and have increased, indicating confidence from larger investors, the long-term growth prospects may be limited due to the relatively slow growth in operating profit.