Why is Indiamart Inter. falling/rising?

As of 24-Jul, Indiamart Intermesh Ltd's stock price is currently at 2,617.00, reflecting an increase of 18.5 points or 0.71%. The stock has been gaining for the last two days, with a total return of 2.62% during this period. Although the stock has underperformed the benchmark Sensex over the past week with a decline of 0.77%, it has shown a positive trend over the last month with a return of 4.68%. The company has demonstrated strong financial performance, with positive results for the last nine consecutive quarters, including a significant growth in profit after tax and high return on capital employed. Additionally, the company maintains a low debt-to-equity ratio and high management efficiency, which supports investor confidence.
In the broader market context, while the Sensex has only slightly declined by 0.09% over the past week, Indiamart's recent performance indicates a stronger recovery in the short term. The stock has outperformed its sector by 2.22% today, suggesting positive investor sentiment despite a decrease in delivery volume. High institutional holdings at 34.45% further indicate that informed investors are backing the company, which may contribute to its rising stock price. Overall, the combination of strong financial metrics and recent positive performance relative to its sector supports the upward movement of Indiamart's stock.