Why is Indiamart Inter. falling/rising?

As of 25-Jun, Indiamart Intermesh Ltd's stock price is rising, currently at 2,661.20, reflecting an increase of 161.2 or 6.45%. The stock has shown strong performance today, outperforming its sector by 4.87% and opening with a gain of 3.64%. It reached an intraday high of Rs 2674.1, marking a 6.96% increase. Over the past week, the stock has risen by 7.91%, and it has also demonstrated solid returns over the past month and year-to-date, with increases of 12.38% and 18.32%, respectively. The company has maintained a high management efficiency with a return on equity (ROE) of 18.31%, a low debt-to-equity ratio, and consistent positive results over the last eight quarters, which have contributed to its recent upward movement.
In the broader market context, Indiamart's short-term performance significantly outpaces the benchmark Sensex, which has only risen by 1.61% over the same week. This strong relative performance indicates robust investor confidence, bolstered by rising delivery volumes and liquidity, suggesting increased investor participation. The company's healthy long-term growth, evidenced by an annual operating profit growth rate of 27.08%, and high institutional holdings at 34.45% further support its positive outlook. Overall, the combination of strong financial metrics and favorable market conditions has led to the stock's recent rise.