Why is Premier Energies falling/rising?

As of 10-Jul, Premier Energies Ltd's stock is rising, with a current price of 1,115.40, reflecting an increase of 36.6 or 3.39%. The stock has shown strong performance today, outperforming its sector by 3.06% and achieving a consecutive gain over the last three days, resulting in a total return of 7.05% during this period. It has also reached an intraday high of Rs 1118.35, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 175.62% against the 5-day average. The company has demonstrated strong long-term fundamentals, including a high average Return on Equity (ROE) of 33.21% and impressive growth in net sales and operating profit.
In the broader market context, Premier Energies has outperformed the Sensex over the past week, with a return of +6.02% compared to the benchmark's -0.06%. However, it has underperformed on a year-to-date basis, with a decline of 17.53% against the Sensex's gain of 6.46%. The recent positive momentum can be attributed to increasing participation from institutional investors, who have raised their stake in the company by 5.73% over the previous quarter, indicating confidence in its fundamentals. Despite the stock's high valuation, reflected in a Price to Book Value of 17.8, the strong growth in net profit and consistent positive results over the last two quarters have contributed to the stock's upward movement.