Why is I R C T C falling/rising?

As of 26-Aug, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a decline in its stock price, currently at 716.65, reflecting a decrease of 5.25 points or 0.73%. The stock has been on a downward trend, having fallen for the last four consecutive days, resulting in a total return of -1.99% during this period. In terms of performance against benchmarks, the stock has underperformed, with a one-week return of -1.32% compared to the Sensex's -1.05%, and a one-month return of -3.97% against the Sensex's -0.83%. Despite strong long-term fundamentals, including a high return on equity (ROE) of 35.32% and low debt levels, the stock's valuation appears expensive with a price-to-book value of 15.7, contributing to its recent price decline.
Broader market context indicates that while IRCTC has strong institutional holdings at 21.43% and constitutes a significant portion of its sector, it has also faced challenges reflected in its flat results for June 25 and underperformance over the last year, generating a return of -22.98%. This underperformance is notable as the broader market, represented by the BSE500, has shown resilience, with a positive return over the same period. The stock's recent struggles, combined with a high PEG ratio of 4.6, suggest that investors may be cautious, leading to the observed price decline amidst rising investor participation in trading volumes.