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

As of 05-Aug, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,344.00, which reflects a decrease of Rs 27.5 or 2.01%. The stock has underperformed its sector by 1.61% today, reaching an intraday low of Rs 1,334, which is a 2.73% drop. Over the past week, the stock has declined by 4.85%, and it has also shown a significant year-to-date decline of 22.77%, contrasting sharply with the Sensex, which has gained 3.29% during the same period. Despite positive quarterly results showing record net sales and profit after tax, the stock's valuation appears expensive, with a price-to-book ratio of 2.5, and a return on equity of only 2.7%, contributing to investor concerns.
In the broader market context, the stock's recent performance is notably weaker compared to the benchmark Sensex, which has only fallen by 0.77% over the past week. This underperformance is compounded by the fact that Info Edge is trading below its moving averages across multiple time frames, indicating a bearish trend. Although there has been a rise in investor participation, with delivery volume increasing significantly, the overall sentiment remains cautious due to the stock's high valuation relative to its peers and the low return on equity. The combination of these factors suggests that investors are wary of the stock's future performance despite its strong fundamentals.