Why is I R C T C falling/rising?

As of 29-Aug, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a decline in its stock price, currently at 691.70, which reflects a decrease of 8.4 points or 1.2%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 5.4% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. While there has been a notable increase in delivery volume, indicating rising investor participation, the stock's overall performance has been lackluster, with a year-to-date return of -12.08% and a one-year return of -24.91%. The company's high valuation, reflected in a Price to Book Value of 15.1, combined with consistent underperformance against benchmarks, has contributed to the negative sentiment surrounding the stock.
In the broader market context, IRCTC's short-term performance has been notably worse than the benchmark, with a one-week return of -4.55% compared to the Sensex's -1.84%. This underperformance is further highlighted by the stock's consistent decline over the past year, where it has lagged behind the BSE500 in each of the last three annual periods. Despite possessing strong long-term fundamentals, such as a high return on equity and low debt-to-equity ratio, the stock's recent flat results and high valuation have led to a lack of investor confidence, contributing to its current downward trajectory.