Why is IRIS Business falling/rising?

As of 18-Jul, IRIS Business Services Ltd's stock price is currently at Rs 376.00, reflecting a decline of Rs 18.35 or 4.65%. Today's price summary indicates that the stock has underperformed its sector by 4.42% and has experienced a trend reversal after two consecutive days of gains. The stock touched an intraday low of Rs 376, with trading volume skewed towards this lower price. Over the past week, the stock has decreased by 8.57%, while it has shown a strong performance over the past month with a return of 54.92%. However, despite a 35.42% return over the last year, the stock's recent performance is hindered by a low delivery volume, which has fallen significantly, indicating reduced investor participation. The company's low debt-to-equity ratio and historical market-beating performance contrast with its current high valuation, as indicated by a price-to-book ratio of 10.2, which may deter some investors.
In the broader market context, the stock's recent decline is notable as it has underperformed the benchmark Sensex, which has only decreased by 0.90% over the same week. While IRIS Business has shown impressive long-term returns, outperforming the BSE500 over various periods, the current sentiment appears cautious due to flat quarterly results and a low earnings per share figure. The lack of domestic mutual fund investment, which holds no stake in the company, may reflect broader market apprehension regarding its valuation and business prospects, contributing to the stock's downward movement.