Why is I R C T C falling/rising?

As of 04-Sep, Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is experiencing a decline in its stock price, currently at Rs 711.00, reflecting a decrease of -1.95 (-0.27%). Today's price summary indicates that the stock has underperformed its sector by -0.69% and has fallen after three consecutive days of gains. The stock has traded within a narrow range of Rs 6.35 and is currently higher than its 5-day moving averages but lower than its 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by -60.6% against the 5-day average. Over the past year, the stock has generated a return of -24.29%, indicating consistent underperformance against benchmarks, including the BSE500.
In the broader market context, the stock's short-term return of +1.56% over the past week outperforms the Sensex, which has gained +0.80%. However, the stock's year-to-date performance shows a decline of -9.62%, contrasting with the Sensex's increase of +3.30%. Despite strong long-term fundamentals, including a high return on equity (ROE) of 35.32% and low debt levels, the stock is perceived as very expensive with a price-to-book value of 15.5. This expensive valuation, combined with a high PEG ratio of 4.6 and flat results in June 2025, has contributed to the stock's recent struggles. The consistent underperformance over the last three years further exacerbates investor sentiment, leading to the current decline in stock price.