Why is Indiamart Inter. falling/rising?

As of 03-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,562.50, reflecting a decrease of 27.5 points or 1.06%. The stock has underperformed its sector today by 0.86%, with a delivery volume that has significantly dropped by 43.71% compared to the 5-day average. Over the past week, the stock has declined by 2.71%, while it has shown a positive return of 8.55% over the last month. Despite these short-term challenges, the company has demonstrated strong fundamentals, including a high return on equity (ROE) of 18.31% and consistent positive results over the last eight quarters, which may support its long-term growth potential.
Broader Market Context: In comparison to the benchmark Sensex, which has decreased by 0.62% over the past week, Indiamart's recent performance indicates a more pronounced decline. However, the stock has outperformed the Sensex over the past month and year-to-date, with returns of 8.55% and 13.93%, respectively. The high institutional holdings at 34.45% suggest that informed investors are backing the company, which could provide some stability despite the current price drop. Overall, while the stock is facing short-term pressures, its solid operational performance and management efficiency may contribute to a more favorable outlook in the longer term.