Why is Indian Energy Ex falling/rising?

As of 29-Aug, Indian Energy Exchange Ltd's stock price is currently at 139.75, reflecting a slight increase of 0.05 (0.04%). The stock has shown a trend reversal, gaining after two consecutive days of decline. Despite this positive movement today, the stock has underperformed in the short term, with a 1-week return of -2.85% compared to the Sensex's -1.84%. However, over the past month, it has outperformed the benchmark with a return of +3.75% against the Sensex's -1.88%. The stock's performance is supported by high management efficiency, a low debt-to-equity ratio, and positive results over the last four quarters, including a high return on equity (ROE) of 38.92%. Nonetheless, the stock faces challenges with falling investor participation, as evidenced by a significant drop in delivery volume.
In the broader market context, while Indian Energy Exchange Ltd has shown some resilience in the short term, its long-term performance remains concerning, with a year-to-date return of -23.07% compared to the Sensex's +2.14%. The stock's valuation appears expensive relative to its peers, with a price-to-book ratio of 11, despite a recent increase in institutional holdings, which may indicate confidence from more sophisticated investors. Overall, while there are some positive indicators, the stock's poor long-term growth and underperformance against broader market indices suggest caution for potential investors.