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

As of 07-Aug, Info Edge (India) Ltd is experiencing a price increase, currently at Rs 1,362.00, reflecting a rise of Rs 39.5 or 2.99%. Today's performance indicates a trend reversal, as the stock has gained after two consecutive days of decline. It outperformed its sector by 2.31% and reached an intraday high of Rs 1,371.1. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the company has shown a significant increase in investor participation, with delivery volume rising by 224.85% compared to the 5-day average. While the stock has underperformed in the short term with a 1-week return of -2.16% and a 1-month return of -4.71%, it has a low debt-to-equity ratio and high institutional holdings at 52.01%, which may provide some stability.
In the broader market context, the Sensex has also seen a decline, with a 1-week return of -0.69% and a 1-month return of -3.38%. However, Info Edge's year-to-date performance is notably worse, with a decline of -21.74% compared to the Sensex's gain of 3.18%. This suggests that while the stock is currently rising, it has faced significant challenges over a longer period. The company's high valuation, indicated by a Price to Book Value of 2.5 and a low return on equity of 2.7, raises concerns among investors, despite recent positive financial results. The stock's performance is thus influenced by a combination of short-term recovery and longer-term valuation issues.