Why is Indiamart Inter. falling/rising?

As of 25-Aug, Indiamart Intermesh Ltd's stock price is currently at 2,623.60, reflecting a decrease of 47.9 points, or 1.79%. Today's performance indicates that the stock has underperformed its sector by 4.19% and has experienced a trend reversal after seven consecutive days of gains. Despite this decline, the stock has shown positive returns over the past week and month, with increases of 1.49% and 1.89%, respectively. The company has demonstrated strong financial health, with a high return on equity (ROE) of 18.31%, low debt-to-equity ratio, and consistent positive results over the last nine quarters. However, the stock's valuation appears expensive, with a price-to-book value of 7.2, which may contribute to the recent price drop despite rising profits.
In the broader market context, Indiamart's short-term performance has outpaced the Sensex, which has only gained 0.45% over the past week. However, the stock's year-to-date return of 16.65% contrasts sharply with its one-year decline of 8.90%, indicating volatility in investor sentiment. The recent drop in delivery volume by 35.7% against the five-day average suggests a decrease in investor participation, which could be influencing the stock's current downward movement. While the IT sector has gained by 2.37%, Indiamart's performance indicates a divergence from this positive trend, reflecting specific challenges faced by the company despite its strong fundamentals.