Why is IRIS Business falling/rising?

As of 25-Aug, IRIS Business Services Ltd's stock price is currently at Rs 342.60, reflecting an increase of Rs 11.1 or 3.35%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Despite today's performance, the stock has underperformed its sector by 0.38%. Over the past week, it has risen by 10.86%, although it has experienced a decline of 8.40% over the past month. The company has a low debt-to-equity ratio and has generated consistent returns over the last three years, outperforming the BSE500 in each of the last three annual periods. However, the company reported negative results in June 2025, with significant declines in profit before tax and profit after tax, leading to concerns about its valuation, which is considered expensive compared to peers.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has only increased by 0.45% over the past week. The BPO/ITeS sector, in which IRIS operates, has gained by 3.53%, indicating some positive sentiment in the industry. However, there has been a notable decrease in institutional investor participation, with a 0.9% reduction in their stake, suggesting a lack of confidence among more sophisticated investors. This decline in participation, combined with the company's disappointing financial results, may contribute to the stock's volatility and mixed performance in the market.