Why is IRIS Business falling/rising?

As of 14-Jul, IRIS Business Services Ltd is experiencing a decline in its stock price, currently at Rs 408.00, reflecting a decrease of Rs 3.25 or 0.79%. Today's price summary indicates that the stock underperformed its sector by 1.19% and has fallen after three consecutive days of gains. Although it opened with a gain of 4.56% and reached an intraday high of Rs 430, it also touched a low of Rs 394, demonstrating high volatility with an intraday fluctuation of 5.08%. Over the past week, the stock has shown a positive return of 5.51%, and it has significantly outperformed the benchmark over the last year with a return of 70.00%. However, the company has faced challenges, such as flat results in March 2025 and a high valuation compared to its peers, which may contribute to investor hesitation.
In the broader market context, while IRIS Business has outperformed the Sensex in the short term, with a 1-month return of 62.26% compared to the Sensex's 1.40%, the stock's year-to-date performance shows a decline of 10.86%, contrasting with the Sensex's gain of 5.27%. The low participation from domestic mutual funds, holding 0% of the company, may indicate a lack of confidence in the stock's current valuation. Despite the company's strong long-term performance and low debt-to-equity ratio, the combination of recent flat earnings and high valuation metrics could be causing investors to reassess their positions, contributing to the stock's recent price decline.