Why is IRIS Business falling/rising?

As of 26-Aug, IRIS Business Services Ltd is experiencing a price increase, currently at Rs 359.00, reflecting a rise of 16.4 points or 4.79%. The stock has shown a strong performance today, outperforming its sector by 5.03% and achieving consecutive gains over the last two days with an overall return of 8.3%. Despite this positive movement, the stock has seen a decline of 4.01% over the past month and a significant year-to-date drop of 21.56%. The company's low debt-to-equity ratio and consistent returns over the last three years, including a 41.34% return in the past year, are positive indicators. However, the recent negative financial results and a high price-to-book value suggest that the stock may be overvalued, which could be contributing to mixed investor sentiment.
In the broader market context, the stock's recent short-term performance of +10.63% over the past week stands in stark contrast to the Sensex, which has declined by 1.05% during the same period. This indicates that IRIS Business is currently outperforming the benchmark significantly. However, the decline in institutional investor participation, with a decrease of 0.9% in their stakes, raises concerns about the stock's future stability. Overall, while the stock is rising in the short term, the underlying financial challenges and reduced institutional interest may pose risks moving forward.