Why is International Ge falling/rising?

As of 14-Jul, International Gemmological Institute (India) Ltd's stock price is currently at 391.20, reflecting an increase of 6.3, or 1.64%. The stock has outperformed its sector today by 1.87%, although it has shown a slight decline of 0.27% over the past week. The stock's performance is bolstered by strong financial metrics, including a high return on equity (ROE) of 40.21% and significant net sales, which reached their highest at Rs 234.20 crore. Additionally, institutional investors have increased their stake in the company by 0.78% over the previous quarter, indicating growing confidence in the company's fundamentals. However, the stock is considered expensive with a price-to-book value of 15.9, which may deter some investors despite the positive financial indicators.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has declined by 1.42% over the past week. While the stock has shown a modest gain of 1.31% over the past month, it has significantly underperformed on a year-to-date basis, with a decline of 29.32% compared to the Sensex's increase of 5.27%. This disparity highlights the challenges the company faces despite its recent positive movements, as the overall market sentiment may still be affecting investor confidence.