Why is IRIS Business falling/rising?

As of 24-Jun, IRIS Business Services Ltd's stock price is currently at Rs 255.50, reflecting an increase of Rs 13.15, or 5.43%. Today, the stock opened with a loss of 2.39% but managed to reach an intraday high of Rs 255.50, indicating a recovery during the trading session. Over the past week, the stock has outperformed the sector by 3.8%, and it has generated a return of 22.57% over the last year, significantly higher than the market's return of 2.98%. However, the stock's performance is contrasted by a low delivery volume, which has decreased by 52.87% compared to the five-day average, suggesting falling investor participation. Additionally, while the company has a low debt-to-equity ratio and has shown a profit increase of 49.8%, it is trading at a premium compared to its peers, which may deter some investors.
In the broader market context, the stock's short-term performance over the past week shows a gain of 4.99%, significantly outpacing the Sensex's increase of 0.58%. Despite this positive short-term trend, the stock's year-to-date performance is concerning, with a decline of 44.18% compared to the Sensex's gain of 5.01%. The market's perception may be influenced by the company's flat results in March 2025 and its high valuation metrics, such as a Price to Book Value of 6.9, which could lead to skepticism among potential investors. Furthermore, the absence of domestic mutual fund investment may indicate a lack of confidence in the stock's current price level, contributing to its mixed performance in the market.