Why is Indian Energy Ex falling/rising?

As of 23-Jul, Indian Energy Exchange Ltd's stock price is currently at Rs 187.85, reflecting a decline of Rs 4.65 or 2.42%. The stock has been underperforming, having fallen for the last six consecutive days, resulting in a total decline of 10.03% during this period. Additionally, the stock's performance over the past week shows a significant drop of 9.80%, while it has managed a modest gain of 2.88% over the past month. Despite these recent struggles, the company has demonstrated high management efficiency with a return on equity of 38.92%, and it has reported positive results for the last three consecutive quarters, which may provide some support for the stock in the long term.
In the broader market context, the Sensex has shown a slight increase of 0.11% over the past week, contrasting with the Indian Energy Exchange's significant decline. This underperformance relative to the benchmark indicates that market conditions may not be favoring this particular stock at the moment. However, the stock has a high institutional holding of 52.66%, which suggests that informed investors are still confident in the company's fundamentals despite the recent price drop. The rising investor participation, with a notable increase in delivery volume, may also indicate potential for recovery, although the current liquidity suggests that the stock is still facing challenges in the short term.