Why is Intellect Design falling/rising?

As of 22-Sep, Intellect Design Arena Ltd. is experiencing a price increase, currently at 1,072.55, reflecting a rise of 11.3 points or 1.06%. The stock has shown strong performance today, outperforming its sector by 3.67% and achieving a consecutive gain over the last three days with a total return of 4.3%. It reached an intraday high of Rs 1104.45, indicating positive momentum. Over the past week, the stock has increased by 4.58%, and in the last month, it has risen by 11.03%, significantly outperforming the Sensex, which only gained 0.46% in the same period. The company benefits from high management efficiency, a low debt-to-equity ratio, and impressive growth in operating profit, which has contributed to its favorable valuation and investor interest.
Broader market context shows that while the IT - Software sector has declined by 2.6%, Intellect Design has managed to thrive, indicating strong investor confidence. The stock's year-to-date return of 12.12% and one-year return of 9.17% further highlight its resilience compared to the broader market, which has seen negative returns of -2.82%. This performance is bolstered by high institutional holdings at 34.99%, suggesting that knowledgeable investors are backing the stock, which enhances its stability and attractiveness in a challenging market environment.