Why is Intellect Design falling/rising?

As of 25-Aug, Intellect Design Arena Ltd. is experiencing a rise in its stock price, currently at Rs 988.50, reflecting an increase of Rs 22.5 or 2.33%. The stock has shown a positive trend recently, gaining 2.54% over the last two days and reaching an intraday high of Rs 1006. In terms of performance, the stock has outperformed the benchmark Sensex over the past week with a return of 5.43% compared to the Sensex's 0.45%. Despite a decline of 4.47% over the past month, the company has demonstrated strong fundamentals, including a high return on equity (ROE) of 15.25%, low debt levels, and significant growth in operating profit, which has increased at an annual rate of 50.19%. Additionally, the stock's institutional holdings have risen by 1.9%, indicating confidence from larger investors.
In the broader market context, the IT - Software sector has also seen gains, with an increase of 2.38%, contributing to the stock's positive movement. While the stock has had a mixed performance over the longer term, with a year-to-date return of 3.33% compared to the Sensex's 4.48%, it has consistently outperformed the BSE500 over the last three years. However, there is a noted decline in investor participation, with delivery volume dropping significantly, which could impact future price movements. Overall, the combination of strong company fundamentals, recent positive performance, and sector support has contributed to the stock's rise.