Why is Adani Ports falling/rising?

As of 26-Aug, Adani Ports & Special Economic Zone Ltd is experiencing a decline in its stock price, currently at 1,317.35, which reflects a decrease of 22.9 points or 1.71%. The stock has been on a downward trend, losing value for the last four consecutive days, with a total decline of 3.86% during this period. Additionally, the stock's performance over the past week and month shows a decrease of 3.80% and 5.52%, respectively. Despite these short-term declines, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 23.48% and operating profit at 31.85%. However, the stock is perceived as having a very expensive valuation, which may be contributing to the recent price drop.
In the broader market context, the stock's performance has been underwhelming compared to the benchmark, with the Sensex declining only 1.05% over the past week and 0.83% over the past month. This indicates that Adani Ports is lagging behind the market, which could be a concern for investors. Furthermore, the falling investor participation, as evidenced by an 85.41% drop in delivery volume compared to the five-day average, suggests a lack of confidence among traders. Although the company has shown strong fundamentals, including positive results for the last ten consecutive quarters and high institutional holdings, the stock's recent performance and valuation concerns may be overshadowing these strengths.