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

As of 31-Jul, Info Edge (India) Ltd is currently priced at 1,392.00, reflecting a slight increase of 2.0 (0.14%). The stock has shown a trend reversal by gaining after five consecutive days of decline, outperforming its sector by 0.74%. Despite this positive movement today, the stock has experienced a 4.42% decline over the past week and a 3.98% decline over the past month. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The company has a low debt-to-equity ratio and reported positive financial results, including the highest net sales for the quarter at Rs 749.63 crore and a higher PAT for the nine months at Rs 713.58 crore. However, the stock's valuation appears expensive with a ROE of 2.7 and a Price to Book Value of 2.6, which may deter some investors.
In the broader market context, Info Edge's recent performance contrasts with the benchmark Sensex, which has declined by only 1.22% over the past week and 3.00% over the past month. While the stock has underperformed the benchmark in the short term, it has shown strong performance over the longer term, with a 60.62% increase over the past three years. The high institutional holdings at 52.01% suggest that knowledgeable investors are backing the stock, which may provide some stability. Nonetheless, the stock's negative returns year-to-date of -20.01% compared to the Sensex's positive return of 3.90% indicate that broader market conditions may not favor Info Edge at this time.