Why is Indiamart Inter. falling/rising?

As of 12-Nov, Indiamart Intermesh Ltd's stock price is currently at Rs 2,507.00, reflecting an increase of Rs 57.6 or 2.35%. The stock has shown a positive performance today, reaching an intraday high of Rs 2,508.6, which is a 2.42% increase. Over the past week, the stock has risen by 1.56%, and it has outperformed the benchmark Sensex, which has increased by 1.21%. Despite this positive movement, there are concerns regarding the company's long-term growth potential, as indicated by a flat operating profit growth rate of 16.82% over the last five years and a significant drop in PAT for the recent quarter. The company's high valuation, with a Price to Book Value ratio of 7, and a low Debtors Turnover Ratio further complicate its outlook.
In the broader market context, the stock's short-term performance has been favorable compared to the Sensex, which has seen a 2.38% increase over the past month, while Indiamart's stock has risen by 4.86% in the same period. However, the overall market sentiment appears to be cautious, as indicated by a decline in investor participation, with delivery volume falling by 5.54% against the five-day average. The IT - Software sector, where Indiamart operates, has gained by 2.09%, suggesting that sector performance is contributing positively to the stock's movement. Nonetheless, the high institutional holdings at 34.53% indicate that more sophisticated investors are closely monitoring the company's fundamentals, which could influence future price movements.