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

As of 22-Aug, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,382.00, which reflects a decrease of Rs 27.1 or 1.92%. Today's price summary indicates that the stock has underperformed its sector by 0.91% and has fallen after three consecutive days of gains. The stock touched an intraday low of Rs 1,376, representing a 2.35% drop. In terms of performance over various periods, the stock has shown a 1.02% increase over the past week, but a significant decline of 20.59% year-to-date, despite positive results in the last three quarters, including a net profit increase and a decrease in raw material costs. However, the stock's valuation appears expensive with a low return on equity of 2.7 and a high price-to-book ratio of 2.6, which may deter investors.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has gained 0.88% over the past week and 4.05% year-to-date. While Info Edge has shown a strong return of 62.58% over the past three years, its recent underperformance and high institutional holdings suggest a cautious outlook among investors. The decline in delivery volume by 14.71% against the five-day average indicates falling investor participation, which could further pressure the stock price. Overall, the combination of high valuation concerns, recent price movements, and declining investor interest contributes to the stock's current downward trajectory.