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

As of 06-Aug, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,321.00, which reflects a decrease of Rs 21.2 or 1.58%. The stock has underperformed its sector by 0.29% today and has been on a downward trend for the last two days, accumulating a total loss of 3.68%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Over the past week, the stock has dropped by 4.96%, and year-to-date, it has seen a significant decline of 24.09%, contrasting sharply with the Sensex, which has gained 3.08%. Despite positive quarterly results showing record net sales and profit after tax, the stock's high valuation, reflected in a Price to Book Value of 2.5 and a low return on equity of 2.7, raises concerns among investors.
In the broader market context, the stock's recent performance has been notably weaker than the benchmark Sensex, which has only declined by 1.15% over the past week. The stock's negative returns over the last month and year, coupled with a high institutional holding of 52.01%, suggest that while institutional investors may have confidence in the company's fundamentals, the overall market sentiment remains cautious due to its expensive valuation relative to peers. The rising delivery volume indicates increased investor participation, but the stock's consecutive declines and underperformance against the sector highlight ongoing challenges that may be influencing its current price movement.