Why is IRIS Business falling/rising?

As of 15-Jul, IRIS Business Services Ltd is experiencing a decline in its stock price, currently at 390.00, which reflects a decrease of 18.0 points or 4.41%. The stock has underperformed its sector by 5.72% today and has been on a downward trend for the last two days, with a total decline of 5.17% during this period. Additionally, the stock touched an intraday low of Rs 385, indicating significant selling pressure. Despite a strong performance over the past year, generating a return of 55.35%, the company has faced challenges, including flat results in March and a high Price to Book Value ratio, suggesting that it may be overvalued compared to its peers. Furthermore, the falling investor participation, with a drastic drop in delivery volume, indicates a lack of confidence among investors.
In the broader market context, the stock has shown a positive return of 5.26% over the past week, while the benchmark Sensex has declined by 1.36%, highlighting its relative strength in the short term. However, the year-to-date performance shows a decline of 14.79% for IRIS Business compared to a 5.67% increase in the Sensex, indicating that the stock is struggling to keep pace with the overall market. The lack of domestic mutual fund investment, which stands at 0%, may also reflect a cautious sentiment towards the stock, further contributing to its recent price decline.