Why is IRIS Business falling/rising?

As of 26-Jun, IRIS Business Services Ltd is experiencing a price increase, currently at 274.95, reflecting a rise of 11.65 or 4.42%. The stock has shown strong performance recently, gaining 13.45% over the last three days and outperforming its sector by 5.09% today. Additionally, the stock has generated a return of 29.69% over the past year, significantly higher than the market's return of 4.11%. However, despite these positive indicators, the company has reported flat results in March 2025, with an earnings per share (EPS) of Rs 1.37, and its valuation appears expensive with a Price to Book Value of 7.5, which may deter some investors.
In the broader market context, the stock's short-term return of 13.99% over the past week outpaces the Sensex's return of 2.94%, indicating strong relative performance. However, the stock's year-to-date performance is concerning, showing a decline of 39.93%, while the benchmark has risen by 7.19%. The low participation from domestic mutual funds, holding 0% of the company, suggests a lack of confidence in the stock's current valuation, which could impact its future price movements. Overall, while the recent gains are encouraging, the underlying financial metrics and market sentiment present a mixed outlook for IRIS Business Services Ltd.