Why is I R C T C falling/rising?

As of 21-Aug, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a decline in its stock price, currently at 725.65, reflecting a decrease of 5.55 points or 0.76%. The stock has underperformed its sector by 2.44% today and has shown a trend reversal after two consecutive days of gains. Additionally, the stock's performance over the past month indicates a decline of 5.83%, while its year-to-date return is down by 7.76%. Despite having strong long-term fundamentals, including a high return on equity (ROE) of 35.32% and a low debt-to-equity ratio, the stock's valuation appears expensive with a price-to-book value of 15.8. The company's recent flat results and significant underperformance over the past year, with a return of -22.36%, have contributed to investor concerns.
In the broader market context, the stock's short-term performance has lagged behind the benchmark, with the Sensex rising by 1.74% over the past week while IRCTC only managed a slight increase of 0.08%. This underperformance is compounded by a decrease in investor participation, as evidenced by a drop in delivery volume by 11.08% against the five-day average. The stock's liquidity remains adequate for trading, but the overall sentiment appears cautious due to its recent flat results and high valuation metrics compared to peers. This combination of factors has led to a negative outlook for IRCTC, influencing its current price decline.