Why is International Ge falling/rising?

As of 11-Jul, International Gemmological Institute (India) Ltd is experiencing a decline in its stock price, currently at Rs 384.90, down by Rs 5.4 or 1.38%. The stock has underperformed its sector by 2.6% today, touching an intraday low of Rs 381, which reflects a decrease of 2.38%. Over the past week, the stock has shown a slight increase of 0.97%, but it has declined by 4.07% over the past month and has a year-to-date drop of 30.45%. Despite high management efficiency indicated by a return on equity (ROE) of 40.21% and a low debt-to-equity ratio, the stock's valuation is considered very expensive with a price-to-book value of 15.7. Additionally, while there has been an increase in institutional investor participation, the stock's delivery volume has fallen significantly, indicating reduced investor interest.
In the broader market context, the Sensex has decreased by 1.12% over the past week, which suggests that the stock's short-term performance is somewhat better than the benchmark. However, the stock's year-to-date performance is notably worse than the Sensex, which has gained 5.58% during the same period. This disparity highlights the challenges faced by International Gemmological Institute (India) Ltd in attracting investor confidence despite some positive financial indicators, such as increased profits and institutional investment. The combination of high valuation concerns and declining trading volume may be contributing to the stock's current downward trend.