Why is Acutaas Chemical falling/rising?

As of 24-Oct, Acutaas Chemicals Ltd is experiencing a decline in its stock price, currently at 1,685.40, reflecting a decrease of 53.85 points or 3.1%. The stock has underperformed its sector by 3% today and has been on a downward trend for the last three days, accumulating a total loss of 5.73% during this period. Despite this recent decline, the stock has shown strong performance over the past month, with a return of 16.26%, and an impressive year-to-date increase of 56.74%. The company has reported healthy growth metrics, including a 63.28% increase in net profit and consistent positive results over the last five quarters, which may suggest underlying strength despite the current price drop. However, the stock's high valuation, indicated by a Price to Book Value of 10.5, could be contributing to investor caution.
In the broader market context, Acutaas Chemicals has outperformed the Sensex over various periods, including a 2.36% gain over the past week compared to the benchmark's 0.31%. However, the recent decline in the stock price, coupled with falling investor participation—evidenced by a 9.4% drop in delivery volume—suggests a shift in market sentiment. While institutional holdings remain high at 39.33%, indicating confidence from larger investors, the stock's premium valuation relative to peers may be causing some investors to reassess their positions, leading to the current price decline.