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

As of 12-Aug, Info Edge (India) Ltd is currently priced at 1,322.70, reflecting a slight increase of 0.75 or 0.06%. The stock has shown a trend reversal by gaining after two consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally bearish trend. Despite a recent decline of 4.22% over the past month and a significant year-to-date drop of 23.99%, the company has reported positive results for the last three consecutive quarters, with notable growth in net sales and profit after tax. Additionally, the stock has seen a rise in delivery volume, suggesting increased investor participation, which may be contributing to the recent price uptick.
In the broader market context, Info Edge's performance over the past week has been worse than the benchmark Sensex, which declined by only 0.59% compared to the stock's 1.45% drop. Despite this, the stock has outperformed the Sensex over a three-year period, gaining 49.24% against the benchmark's 34.93%. However, the stock's valuation remains a concern, as it trades at a premium compared to its peers, with a price-to-book value of 2.5 and a low return on equity of 2.7. The high institutional ownership at 52.01% may provide some stability, but the expensive valuation and recent underperformance relative to the market could weigh on investor sentiment moving forward.