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

As of 07-Oct, Info Edge (India) Ltd is currently priced at 1,381.00, reflecting a slight increase of 0.7 (0.05%). The stock has been gaining for the last two days, with a total return of 3.49% during this period. It is performing inline with its sector, and while it is above the 5-day, 20-day, and 50-day moving averages, it remains below the 100-day and 200-day moving averages. Despite a recent positive trend, there has been a notable decline in investor participation, with delivery volume dropping by 40.74% compared to the 5-day average. The company has reported strong financial performance over the last three quarters, with significant growth in net sales, profit before tax, and profit after tax, alongside a low debt-to-equity ratio and high institutional holdings at 52.01%. However, the stock's valuation appears expensive relative to its peers, as indicated by a high price-to-book value and a low return on equity.
In the broader market context, Info Edge has outperformed the benchmark Sensex over the past week and month, with returns of 5.40% and 2.60%, respectively, compared to the Sensex's 2.07% and 1.51%. However, the stock has significantly underperformed over the year, with a return of -13.69% against the benchmark's modest gain of 1.08%. This discrepancy highlights the challenges the company faces in maintaining investor confidence despite its recent positive financial results. The overall market sentiment has been mixed, and while the stock has shown short-term gains, its long-term performance remains a concern for investors.