Why is IRIS Business falling/rising?

As of 30-Jun, IRIS Business Services Ltd's stock price is rising, currently at 303.05, reflecting an increase of 14.4 or 4.99%. The stock has shown strong performance recently, gaining 25.05% over the past week and outperforming its sector by 5.93% today. It opened with a gain of 3.59% and reached an intraday high of Rs 303.05. Despite this positive momentum, the stock's moving averages indicate it is trading lower than the 100-day and 200-day averages, and there has been a decline in investor participation, with delivery volume falling by 7.65% against the 5-day average. While the company has a low debt-to-equity ratio and has generated a significant return of 46.40% over the past year, it also faces challenges such as a flat EPS result and a high Price to Book Value ratio, suggesting it may be overvalued compared to its peers.
In the broader market context, the stock's short-term performance has significantly outpaced the benchmark, with a 25.05% increase over the past week compared to the Sensex's 2.09% rise. However, year-to-date, IRIS Business has underperformed the market, with a decline of 33.79% against the Sensex's 7.00% gain. This disparity highlights the stock's volatility and potential concerns among investors, particularly given the lack of domestic mutual fund investment, which may indicate hesitance regarding its current valuation. Overall, while the recent price increase reflects positive short-term sentiment, underlying factors suggest caution moving forward.