Why is Indiamart Inter. falling/rising?

As of 08-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,565.00, reflecting an increase of 30.0 points or 1.18%. The stock has shown a trend reversal, gaining after three consecutive days of decline. Despite a recent drop in delivery volume by 2.2% compared to the five-day average, the stock has outperformed its sector by 0.91%. Over the past month, it has risen by 5.24%, while year-to-date, it has increased by 14.04%. The company has demonstrated strong fundamentals, with a high return on equity (ROE) of 18.31%, a low debt-to-equity ratio, and consistent positive results over the last eight quarters, contributing to its healthy long-term growth.
In the broader market context, the stock's performance over the past week shows a decline of 0.92%, while the benchmark Sensex has seen a slight increase of 0.02%. This indicates that while Indiamart has faced some short-term challenges, its overall year-to-date performance significantly outpaces the benchmark's 7.13% increase. The high institutional holdings at 34.45% suggest that informed investors are confident in the company's fundamentals, which may support the stock's recent upward movement despite the recent volatility.