Why is Premier Energies falling/rising?

As of 09-Jul, Premier Energies Ltd is experiencing a price increase, currently at 1,078.80, reflecting a rise of 23.3 or 2.21%. The stock has outperformed its sector by 2.53% today and has shown consecutive gains over the last two days, accumulating a total return of 3.54%. It reached an intraday high of Rs 1,094.75, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite this positive momentum, there is a noted decline in investor participation, with delivery volume falling by 47.85% against the 5-day average. The company has demonstrated strong long-term fundamentals, with a remarkable average Return on Equity (ROE) of 33.21%, and significant growth in net sales and operating profit, which supports the stock's upward movement.
In the broader market context, Premier Energies' short-term return of 1.99% over the past week significantly outpaces the Sensex, which only increased by 0.15% during the same period. This indicates that the stock is gaining traction relative to the overall market. Additionally, the increase in institutional investor participation, with a 1.35% rise in their stake, suggests growing confidence in the company's fundamentals, which may further bolster the stock's performance. However, it is important to note that the stock has a very expensive valuation with a Price to Book Value of 17.2, which could pose risks if market conditions change.