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

As of 19-Sep, Info Edge (India) Ltd is experiencing a decline in its stock price, currently at 1,381.10, down by 3.4 points or 0.25%. The stock has shown a trend reversal after two consecutive days of gains, and its performance today is in line with the sector. Despite being higher than the 5-day, 20-day, and 50-day moving averages, it remains lower than the 100-day and 200-day moving averages. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 28.45% against the 5-day average. Over the past week, the stock has gained 1.58%, but it has underperformed significantly year-to-date with a decline of 20.64%.
In the broader market context, while the Sensex has risen by 0.88% over the past week and 5.74% year-to-date, Info Edge has struggled to keep pace, indicating a weaker performance relative to the market. The company has reported positive results over the last three quarters, with significant growth in net sales and profits, yet it faces challenges due to a high valuation reflected in its Price to Book Value ratio of 2.6 and a low return on equity of 2.7. This expensive valuation, combined with a PEG ratio of 1.9, suggests that the stock may be overvalued compared to its peers, contributing to its recent price decline despite positive financial performance.