Why is IRIS Business falling/rising?

As of 01-Sep, IRIS Business Services Ltd is experiencing a decline in its stock price, currently at Rs 363.00, which reflects a decrease of Rs 6.0 or 1.63%. Today's price summary indicates that the stock has underperformed its sector by 4.93% and has fallen after four consecutive days of gains. The stock reached an intraday low of Rs 350.25, marking a drop of 5.08%. In terms of returns, the stock has shown a 5.95% increase over the past week, but it has decreased by 1.83% over the past month. Despite generating a substantial 47.35% return over the last year, the company reported negative results in June 2025, with a significant decline in profit after tax and operating profit margins, which has contributed to the recent downward pressure on the stock.
Broader market context shows that while the Sensex has decreased by 1.56% over the past week, IRIS Business has outperformed this benchmark, indicating some resilience in the short term. However, the stock's year-to-date performance is concerning, with a decline of 20.69% compared to a 2.85% increase in the Sensex. Additionally, falling participation from institutional investors, who have reduced their stake by 0.9%, suggests a lack of confidence in the stock's fundamentals, further exacerbating its price decline. The company's high valuation metrics, including a Price to Book Value of 9.8, also indicate that the stock may be trading at a premium compared to its peers, which could deter potential investors.