Why is IRIS Business falling/rising?

As of 25-Jun, IRIS Business Services Ltd is experiencing a price increase, currently at Rs 263.30, reflecting a rise of Rs 7.8 or 3.05%. The stock has shown strong performance today, outperforming its sector by 2.54% and has gained 8.64% over the last two days. It opened with a significant gain of 4.48% and reached an intraday high of Rs 266.95. Over the past week, the stock has returned 8.49%, which is notably higher than the Sensex's 1.61% increase. However, despite the positive short-term performance, the stock has a year-to-date decline of 42.47% and a relatively high Price to Book Value ratio of 7.1, indicating it may be overvalued compared to its peers. Additionally, the company has a low Debt to Equity ratio, which is a positive factor, but the lack of domestic mutual fund investment suggests some caution among institutional investors.
In the broader market context, IRIS Business's recent performance contrasts sharply with the benchmark, as it has outperformed the Sensex significantly in the short term. While the stock has generated a return of 23.85% over the past year, the benchmark has only returned 6.02%. This disparity highlights the stock's ability to deliver returns despite its recent volatility. However, the falling investor participation, as indicated by a decrease in delivery volume, may signal potential concerns about sustainability in this upward trend. Overall, while the stock is currently rising, the mixed signals from its valuation and investor interest could impact its future performance.