Why is Indiamart Inter. falling/rising?

As of 09-Jul, Indiamart Intermesh Ltd's stock price is rising, currently at 2,599.00, reflecting an increase of 34.0 points or 1.33%. The stock has shown a positive performance today, outperforming its sector by 2.08% and has been on a consecutive gain for the last two days, with a total return of 2.52% during this period. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. Additionally, the stock has demonstrated solid returns over various periods, including a 5.24% increase over the past month and a year-to-date rise of 15.55%. The company's high management efficiency, as evidenced by a return on equity (ROE) of 18.31%, a low debt-to-equity ratio, and consistent positive results over the last eight quarters, further support the stock's upward movement.
In the broader market context, Indiamart's short-term return of 0.35% over the past week outperformed the benchmark Sensex, which increased by only 0.15%. This trend of outperformance continues in the monthly returns, where Indiamart's 5.24% gain surpasses the Sensex's 1.32%. The stock's liquidity, with a delivery volume increase of 0.33% against the 5-day average, and high institutional holdings at 34.45% suggest strong investor confidence, which is likely contributing to the stock's positive price movement. Overall, the combination of solid financial performance, favorable market conditions, and rising investor participation is driving the stock's rise.