Why is International Ge falling/rising?

As of 17-Jul, the stock price of International Gemmological Institute (India) Ltd is currently at Rs 393.10, reflecting a decrease of Rs 5.05 or 1.27%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 1.38%. Today's performance shows that it underperformed its sector by 1.04%, and it reached an intraday low of Rs 389.15. Over the past week, the stock has gained 0.72%, but it has a year-to-date decline of 28.97%. Despite high management efficiency indicated by a return on equity (ROE) of 40.21%, the stock is viewed as expensive with a price-to-book value of 16, which may deter some investors. Additionally, while institutional investors have increased their stake, the overall delivery volume has decreased, suggesting a lack of retail investor interest.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 1.12% over the past week. While the stock has shown a positive return of 6.75% over the past month, it still lags significantly behind the benchmark's year-to-date performance of 5.27%. The falling investor participation and the stock's inability to maintain momentum despite institutional interest indicate a cautious sentiment among investors. Overall, the combination of high valuation concerns and declining retail interest may contribute to the stock's recent downward movement.