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

As of 04-Sep, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at Rs 1,341.00, which reflects a decrease of Rs 24.15 or 1.77%. The stock has underperformed its sector by 0.97% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 2.23% during this period. Additionally, the stock has touched an intraday low of Rs 1,324.55 and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite the company declaring positive results over the last three consecutive quarters, including significant growth in net sales and profit after tax, the stock's performance has been lackluster, with a year-to-date return of -22.94% compared to a 3.30% gain in the benchmark index.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark Sensex, which has gained 0.80% over the past week while Info Edge has declined by 2.90%. This underperformance is compounded by a decrease in investor participation, as evidenced by a 20.61% drop in delivery volume compared to the 5-day average. The stock's high valuation, indicated by a Price to Book Value of 2.5 and a low return on equity of 2.7, suggests that it is trading at a premium compared to its peers, which may deter potential investors. While the company has strong institutional holdings, the overall sentiment appears to be negative, contributing to the stock's recent decline.