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

As of 10-Jul, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at 1,420.50, which reflects a decrease of 17.1 points or 1.19%. The stock has underperformed its sector by 0.56% today and has been on a downward trend for the last two days, accumulating a total loss of 2.71%. In terms of returns, the stock has fallen by 1.53% over the past week and 7.47% over the past month, while it has shown a year-to-date decline of 18.37%. Despite these negative trends, the company has reported strong quarterly results, with net sales and profit after tax reaching their highest levels, and it maintains a low debt-to-equity ratio and high institutional holdings, which could suggest underlying strength. However, the stock is considered expensive with a high price-to-book value and a low return on equity, which may deter some investors.
In the broader market context, the Sensex has remained relatively stable, with only a slight decline of 0.06% over the past week and a modest gain of 0.97% over the past month. This indicates that the decline in Info Edge's stock price is not reflective of the overall market trend, as it is underperforming significantly compared to the benchmark. Additionally, while the stock has generated a positive return of 3.65% over the past year, this is overshadowed by its substantial year-to-date losses, suggesting that investor sentiment may be cautious due to its high valuation relative to peers and the recent performance trends.