Why is I R C T C falling/rising?

As of 01-Aug, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a decline in its stock price, currently at 718.15, which represents a decrease of 8.05 or 1.11%. The stock has been underperforming in the short term, having fallen consecutively for the last two days with a total return of -2.45%. Additionally, it has shown a negative performance over the past week and month, with declines of -3.77% and -7.38%, respectively. The stock is trading below its moving averages across various time frames, indicating a bearish trend. Despite a high management efficiency reflected in a return on equity (ROE) of 35.32% and low debt levels, the stock's valuation appears expensive with a price-to-book ratio of 15.7, contributing to its recent price decline.
In the broader market context, the stock's performance has been notably worse than the benchmark, with a year-to-date return of -8.71% compared to the Sensex's gain of 3.15%. The travel services sector, in which IRCTC operates, has also faced challenges, evidenced by a sector decline of -4.95%. Furthermore, investor participation has decreased, as indicated by a drop in delivery volume, which fell by 3.37% against the five-day average. This combination of poor short-term performance, sector-wide challenges, and declining investor interest has contributed to the stock's downward movement.