Why is Indiamart Inter. falling/rising?

As of 14-Jul, Indiamart Intermesh Ltd's stock price is rising, currently at 2,733.15, reflecting an increase of 126.75 or 4.86%. The stock has shown strong performance today, outperforming its sector by 5.89% and achieving a consecutive gain over the last two days with a total return of 5.81%. It reached an intraday high of Rs 2772, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 2.55% against the 5-day average. The company has demonstrated high management efficiency, 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, Indiamart's short-term return of +7.82% over the past week significantly outperforms the Sensex, which has declined by 1.42% during the same period. While the stock has experienced a slight decline of -2.59% over the past year, its profits have increased by 64.2%, indicating a strong underlying performance despite a recent dip. The stock is currently trading at a discount compared to its peers' average historical valuations, which may attract investors looking for value. The high institutional holdings at 34.45% suggest confidence from larger investors, further supporting the stock's upward movement.