Why is IRIS Business falling/rising?

As of 01-Jul, IRIS Business Services Ltd's stock price is currently at Rs 318.20, reflecting an increase of 15.15 (5.0%). The stock has been on an upward trajectory, gaining for the last six days and achieving a total return of 31.3% during this period. It outperformed its sector by 7.49% today and opened with a 5% gain. Over the past year, the stock has generated a return of 50.73%, significantly higher than the broader market's return of 3.20%. However, despite this strong performance, the company has a low Debt to Equity ratio and is trading at a premium compared to its peers, which may raise concerns about its valuation.
In the broader market context, the stock's recent performance is particularly notable when compared to the Sensex, which has only increased by 2.00% over the past week. While the stock has shown impressive short-term gains, the BPO/ITeS sector has experienced a decline of 2.55%, indicating sector-specific challenges. Additionally, there has been a decrease in investor participation, with delivery volume falling by 17.63% against the five-day average. This could suggest that while the stock is currently rising, there are underlying concerns that may affect its sustainability in the long term.