Why is Indiamart Inter. falling/rising?

As of 11-Jul, Indiamart Intermesh Ltd's stock price is rising, currently at 2,606.40, reflecting an increase of 23.4 points or 0.91%. The stock has outperformed its sector by 3.05% today, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Over the past week, the stock has gained 2.41%, while it has increased by 4.65% over the past month. Additionally, the company has demonstrated 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 investor confidence and the stock's recent performance.
In the broader market context, while Indiamart's stock has shown positive short-term returns, the benchmark Sensex has declined by 1.12% over the past week and is nearly flat over the past month. This contrast highlights Indiamart's relative strength in a challenging market environment. The company’s strong institutional holdings at 34.45% suggest that knowledgeable investors are backing it, further supporting its price increase. The rising delivery volume, which has surged by 128.17% against the 5-day average, also indicates growing investor interest, reinforcing the stock's upward momentum despite a general downturn in the IT - Software sector, which has fallen by 2.17%.