Why is International Ge falling/rising?

As of 01-Jul, International Gemmological Institute (India) Ltd is experiencing a decline in its stock price, currently at Rs 368.50, which represents a decrease of Rs 8.35 or 2.22%. Today's price summary indicates that the stock has underperformed its sector by 1.65% and has fallen after five consecutive days of gains. The stock touched an intraday low of Rs 366.9, reflecting a decline of 2.64%. Over the past week, the stock has shown a positive return of 3.89%, but it has underperformed over the past month with a decline of 5.40%. Despite a high management efficiency indicated by a return on equity (ROE) of 40.21% and a low debt-to-equity ratio, the stock is perceived as expensive with a price-to-book value of 15. Additionally, while net sales and profits have shown growth, the stock's year-to-date performance is significantly negative at -33.42%.
In the broader market context, the Sensex has increased by 2.00% over the past week and 2.76% over the past month, indicating that the stock's recent decline is not reflective of the overall market trend. The rising participation of institutional investors, who have increased their stake by 0.78%, suggests a level of confidence in the company's fundamentals, yet this has not translated into positive stock performance. The stock's liquidity remains adequate, with a delivery volume increase of 38.78% compared to the five-day average, which may indicate some investor interest despite the current downturn. Overall, the stock's recent performance appears to be influenced by its high valuation relative to its earnings growth, leading to a cautious sentiment among investors.