Why is Info Edg.(India) falling/rising?

As of 07-Jul, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,429.35, which reflects a decrease of Rs 52.15 or 3.52%. The stock has underperformed its sector by 2.88% today, touching an intraday low of Rs 1,404.8, which is a drop of 5.18%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 62.25% compared to the 5-day average. While the company has reported positive quarterly results with the highest net sales and profit after tax, its valuation remains a concern due to a high Price to Book Value ratio of 2.7, which suggests it is trading at a premium compared to its peers.
In the broader market context, Info Edge's short-term performance has been notably weak, with a 1-week return of -3.55%, contrasting with a minimal decline of 0.20% in the Sensex. Over the past month, the stock has decreased by 5.28%, while the benchmark has gained 1.53%. Despite a positive annual return of 4.96%, the stock's year-to-date performance is significantly worse at -17.87%, compared to the Sensex's gain of 6.79%. This underperformance, coupled with high institutional holdings at 52.09%, indicates that while institutional investors may have confidence in the company's fundamentals, the current market sentiment is negative, contributing to the stock's decline.