Why is Indian Energy Ex falling/rising?

As of 24-Jul, Indian Energy Exchange Ltd is experiencing a significant decline in its stock price, currently at Rs. 132.45, which reflects a decrease of Rs. 55.4 or 29.49%. The stock has hit a new 52-week low of Rs. 131.5 today and has been on a downward trend for the past seven days, resulting in a total drop of 36.61% during this period. Additionally, the stock has underperformed its sector by 28.41% today and opened with a substantial loss of 9.98%. In terms of longer-term performance, the stock has seen a decline of 35.58% over the past week and 29.45% over the past month, contrasting sharply with the Sensex, which has shown minimal movement of -0.09% over the same week and a slight gain of 0.16% over the month. Despite this downturn, the company maintains a high management efficiency with a return on equity of 38.92% and has reported positive results for the last four consecutive quarters, indicating strong fundamentals.
In the broader market context, the Indian Energy Exchange's recent performance starkly contrasts with the Sensex, which has gained 5.18% year-to-date, while the stock has declined by 27.09% in the same timeframe. The company's high institutional holdings at 52.66% suggest that knowledgeable investors are backing it, as their stake has increased by 2.39% over the previous quarter. However, the stock's current volatility, with an intraday fluctuation of 14.99%, and its trading below all major moving averages indicate a challenging environment. The liquidity of the stock remains adequate for trading, but the significant drop in price and performance relative to the benchmark highlights the difficulties faced by the company in the current market conditions.