Why is I R C T C falling/rising?

As of 02-Sep, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a price increase, currently at 711.80, reflecting a rise of 7.55 (1.07%). The stock has outperformed its sector by 3.41% today and has shown consecutive gains over the last two days, with a total return of 2.91% during this period. Despite this positive movement, the stock has underperformed in the longer term, with a year-to-date decline of 9.52% and a significant drop of 24.03% over the past year. The company boasts strong long-term fundamentals, including a high average Return on Equity (ROE) of 35.32% and a low Debt to Equity ratio, which may contribute positively to investor sentiment. However, the stock's valuation appears expensive with a Price to Book Value of 15.5, and it has consistently underperformed against benchmarks over the last three years.
In the broader market context, IRCTC's short-term performance shows a slight advantage over the benchmark, as it has declined by 0.68% over the past week compared to the Sensex's 0.78% drop. Nonetheless, the stock's long-term performance remains concerning, with a significant underperformance against the benchmark indices, particularly over the past year and three years. The travel services sector has also seen a decline of 2%, which may impact investor sentiment. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 43.38% against the five-day average, indicating potential liquidity concerns that could affect future price movements.