Why is Indiamart Inter. falling/rising?

As of 11-Sep, Indiamart Intermesh Ltd's stock price is currently at 2,608.05, reflecting an increase of 26.05, or 1.01%. The stock has outperformed its sector today by 1.42%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past week, the stock has gained 2.23%, and it has shown a year-to-date increase of 15.95%, significantly outperforming the Sensex, which has only risen by 4.36%. Despite a slight decline in delivery volume, the company maintains high management efficiency with a return on equity of 18.31% and a low debt-to-equity ratio, which supports its recent positive performance. Furthermore, the company has reported positive results for the last nine consecutive quarters, with a notable growth in profit after tax and net sales.
In the broader market context, the stock's short-term performance has been favorable compared to the benchmark, as it has outperformed the Sensex over the past week and month. The Sensex has increased by 1.03% in the last week, while Indiamart's stock has risen by 2.23%. This trend suggests that investor confidence in Indiamart is relatively strong, bolstered by high institutional holdings at 34.52%, which indicates that knowledgeable investors are backing the stock. Overall, the combination of strong financial performance, efficient management, and positive market sentiment contributes to the stock's rising price.