Why is Indian Energy Ex falling/rising?

As of 09-Jul, Indian Energy Exchange Ltd's stock price is rising, currently at 208.00, reflecting an increase of 7.05 or 3.51%. The stock has shown strong performance today, outperforming its sector by 3.18% and achieving a consecutive gain over the last six days, with a total rise of 7.74% during this period. It reached an intraday high of Rs 211.75, and is trading above all key moving averages, indicating positive momentum. Additionally, the stock has delivered a return of 14.51% year-to-date, significantly outperforming the broader market's 6.91% return. Factors contributing to this upward movement include high management efficiency with a return on equity (ROE) of 38.92%, a low debt-to-equity ratio, and positive financial results over the last three quarters, which have bolstered investor confidence.
In the broader market context, the stock's short-term return of 6.53% over the past week stands in stark contrast to the Sensex, which has only increased by 0.15%. This significant outperformance highlights the stock's strong market position. Furthermore, the high institutional holdings at 50.27% suggest that knowledgeable investors are backing the stock, which can further drive demand. However, it is important to note that while the stock has performed well recently, there are concerns regarding its long-term growth potential, as indicated by a relatively high price-to-book value and a PEG ratio of 1.9, suggesting that it may be overvalued compared to its peers.