Why is Intellect Design falling/rising?

As of 23-Jun, Intellect Design Arena Ltd. is currently priced at 1,070.75, reflecting a decline of 8.7 points or 0.81%. The stock has been on a downward trend, having fallen for the last four consecutive days, resulting in a total drop of 12.83% during this period. Today, it opened with a loss of 2.68%, reaching an intraday high of Rs 1,103.35 and a low of Rs 1,046.7. Despite this recent decline, the stock has shown strong performance year-to-date with an increase of 11.93%, although it has underperformed the benchmark Sensex in the short term, with a weekly return of -11.22% compared to the Sensex's slight gain of 0.12%. The stock's liquidity remains adequate, supported by a significant rise in delivery volume.
In terms of company fundamentals, Intellect Design benefits from high management efficiency, evidenced by a return on equity (ROE) of 15.25% and a low debt-to-equity ratio. The company has recently reported positive quarterly results after three negative quarters, with a notable increase in profit after tax and cash reserves. However, despite these positive indicators, the stock is trading at a premium compared to its peers, which may contribute to the recent price decline as investors reassess its valuation. Additionally, while institutional holdings are high at 33.09%, the stock's recent performance has not aligned with broader market trends, leading to its current downward movement.