Why is Indian Energy Ex falling/rising?

As of 30-Jul, Indian Energy Exchange Ltd's stock price is currently at Rs 136.00, reflecting an increase of Rs 1.3, or 0.97%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 0.99%. However, it remains close to its 52-week low, just 3.31% away from Rs 131.5. Over the past week, the stock has experienced a significant drop of 27.60%, while its performance over the past month shows a decline of 29.57%. Despite positive results in the last four quarters and a high return on equity (ROE) of 38.92%, the stock's long-term growth prospects appear poor, as indicated by a 19.43% annual growth rate in operating profit over the last five years.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as the Sensex has only declined by 1.50% over the past week and 2.54% over the past month. This underperformance is further highlighted by the stock's negative returns of -28.02% over the past year compared to the Sensex's slight gain of 0.03%. Additionally, the stock is trading below its moving averages, and there has been a notable decrease in investor participation, with delivery volume falling by 38.73% against the five-day average. While high institutional holdings may provide some support, the overall sentiment remains cautious due to the stock's expensive valuation and poor long-term growth outlook.