Why is Indus Towers falling/rising?

As of 19-Sep, Indus Towers Ltd is experiencing a price increase, currently at 356.70, reflecting a change of 2.6 (0.73%) upward. The stock has shown a trend reversal after two consecutive days of decline, reaching an intraday high of Rs 361.65. In terms of performance, the stock has a mixed short-term return, with a 1-week decline of -1.49% compared to the Sensex's gain of +0.88%, while it has risen by 4.30% over the past month, outperforming the Sensex's +1.20%. Positive factors contributing to the stock's recent movement include high management efficiency with a return on capital employed (ROCE) of 18.42%, robust long-term growth in net sales and operating profit, and a significant institutional holding of 45.68%, which has increased by 0.84% over the previous quarter. However, the stock also faces challenges, including flat quarterly results and a high valuation compared to its peers, which may temper investor enthusiasm.
Broader Market Context: The broader market context shows that while Indus Towers has underperformed the benchmark in the short term, it has outperformed it over the longer term, with a year-to-date return of +4.39% compared to the Sensex's +5.74%. The stock's liquidity remains adequate for trading, but a decline in delivery volume suggests falling investor participation, which could impact future price movements. Overall, while the stock has shown some positive indicators, the mixed performance relative to the benchmark and concerns over valuation may influence investor sentiment moving forward.