Why is International Ge falling/rising?

As of 18-Jul, the stock price of International Gemmological Institute (India) Ltd is currently at Rs 390.10, reflecting a decrease of Rs 3.0 or 0.76%. The stock has been underperforming, having fallen consecutively for the last three days with a total decline of 2.32%. It also touched an intraday low of Rs 385.25. Despite a positive performance over the past week and month, where it gained 1.35% and 8.24% respectively, the year-to-date return shows a significant decline of 29.51%. The company has demonstrated high management efficiency with a return on equity (ROE) of 40.21%, but its valuation appears expensive with a price-to-book value of 15.9. Additionally, while institutional investors have increased their stake, indicating growing confidence, the stock's delivery volume has decreased by 36.71%, suggesting falling investor participation.
In the broader market context, the stock has outperformed the Sensex over the past week and month, but it has significantly lagged behind the benchmark year-to-date, where the Sensex has gained 4.63%. The recent decline in the stock price, despite some positive financial indicators, may be attributed to the overall market sentiment and reduced trading activity. The liquidity of the stock remains adequate, but the combination of high valuation concerns and declining retail interest could be contributing to the downward pressure on the stock price.