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

As of 18-Jul, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at 1,364.95, reflecting a decrease of 15.95 points or 1.16%. The stock has underperformed its sector by 1.05% today and has been on a consecutive downward trend for the last three days, resulting in a total drop of 2.68% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite positive quarterly results showing the highest net sales and profit after tax, the stock's valuation remains high with a price-to-book value of 2.5, contributing to its recent price decline. Furthermore, a significant drop in delivery volume by 64.08% against the 5-day average suggests falling investor participation, which may be impacting the stock's performance.
In the broader market context, Info Edge's short-term return of -1.16% over the past week contrasts with the benchmark Sensex, which has decreased by only 0.90%. Over the past month, the stock has declined by 7.09%, while the Sensex has gained 0.38%. This underperformance is further highlighted by the year-to-date return of -21.57% for Info Edge compared to a 4.63% increase in the Sensex. The high institutional holdings at 52.09% indicate that knowledgeable investors are involved, yet the stock's expensive valuation relative to its peers may be causing concern among retail investors, leading to the current downward pressure on the stock price.