Why is Premier Energies falling/rising?

As of 30-Jun, Premier Energies Ltd's stock price is currently at 1,062.60, reflecting an increase of 16.6 points or 1.59%. The stock has been on an upward trend, gaining for the last three consecutive days and achieving a total return of 4.34% during this period. It has outperformed its sector by 1.31% today and has traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there is a noted decline in investor participation, with delivery volume dropping by 45.81% compared to the 5-day average. The company has demonstrated strong long-term fundamentals, with a high return on equity of 33.21% and significant growth in net sales and operating profit, which supports the stock's positive movement.
In the broader market context, Premier Energies' 1-week return of 4.48% significantly outpaces the Sensex's return of 2.09%, indicating strong relative performance. Despite a year-to-date decline of 21.44% against the Sensex's gain of 7.00%, the recent increase in institutional investor participation, which has risen by 1.35%, suggests growing confidence in the company's fundamentals. While the stock's valuation is considered expensive with a price-to-book ratio of 17, the positive financial results and growth metrics may be driving recent interest and price appreciation, despite the risks associated with its high valuation.