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

As of 02-Sep, Info Edge (India) Ltd is currently priced at 1,365.40, reflecting a decrease of 6.2 points or 0.45%. The stock has underperformed its sector by 0.52% today, and its delivery volume has significantly dropped by 49.69% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has declined by 2.03%, while its performance over the year shows a notable drop of 9.80%. Despite positive financial results in the last three quarters, including a 26.9% growth in PAT, the stock's high valuation, indicated by a Price to Book Value of 2.5 and a low ROE of 2.7, raises concerns among investors.
In the broader market context, the Sensex has experienced a slight decline of 0.78% over the past week, which suggests that the market sentiment is somewhat negative. However, Info Edge's year-to-date performance is significantly worse, with a decline of 21.54% compared to the Sensex's increase of 2.58%. This stark contrast highlights the stock's struggles relative to the benchmark, despite its strong institutional backing and positive sales growth. The combination of high valuation concerns and declining investor interest appears to be driving the stock's recent downward movement.