Why is I R C T C falling/rising?

As of 03-Sep, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a slight increase in its stock price, currently at Rs 712.95, reflecting a change of 1.15 (0.16%) upward. Despite this recent gain, the stock has underperformed its sector by 2.5% today and has shown a negative return of 0.52% over the past week and 0.72% over the past month. The stock has been gaining for the last three days, with a total return of 3.07% during this period. However, it has consistently underperformed against the benchmark, with a year-to-date decline of 9.37% compared to a 3.11% increase in the Sensex. The company boasts strong long-term fundamentals, including a high average Return on Equity (ROE) of 35.32% and low debt levels, but it also faces challenges such as a very expensive valuation and a high PEG ratio of 4.6, which may deter some investors.
In the broader market context, the stock's recent performance contrasts with the overall market, as it has consistently underperformed against the benchmark over the last three years, including a significant decline of 24.57% over the past year while the Sensex has only fallen by 2.41%. The travel services sector, in which IRCTC operates, has gained by 2.66%, indicating a favorable environment for the sector overall. However, the falling investor participation, evidenced by a 20.75% drop in delivery volume, suggests a lack of confidence among retail investors, which could hinder the stock's recovery despite its recent gains.