Why is Indian Energy Ex falling/rising?

As of 14-Jul, Indian Energy Exchange Ltd's stock price is currently at 207.10, reflecting an increase of 1.1, or 0.53%. The stock has shown a positive trend today, gaining after two consecutive days of decline. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Over the past week, the stock has risen by 3.94%, significantly outperforming the Sensex, which has declined by 1.42%. Additionally, the company has demonstrated strong financial performance, with high management efficiency indicated by a return on equity (ROE) of 38.92% and positive results over the last three quarters. However, there are concerns regarding falling investor participation, as evidenced by a 57.4% drop in delivery volume compared to the 5-day average.
In the broader market context, the stock's performance has outpaced the benchmark, generating a return of 10.69% over the past month compared to the Sensex's 1.40% increase. Year-to-date, Indian Energy Exchange Ltd has achieved a return of 14.01%, while the Sensex has only risen by 5.27%. Despite these positive indicators, the stock faces risks due to its high valuation and slower long-term growth, with operating profit growing at an annual rate of 18.27% over the last five years. The stock's premium valuation, reflected in a price-to-book ratio of 16.3, raises concerns among investors, especially in light of its recent performance relative to profit growth.