Why is Amal falling/rising?

As of 02-Jul, Amal Ltd's stock price is currently at 696.35, reflecting a decrease of 2.3 points or 0.33%. The stock has been experiencing a downward trend, having fallen for the last two consecutive days, resulting in a total decline of 3.95% during this period. Despite this recent drop, the stock has shown strong performance over the longer term, with a remarkable return of 90.39% over the past year, significantly outperforming the broader market's return of just 3.11%. Additionally, today's trading saw the stock reach an intraday high of Rs 715, although it also touched a low of Rs 683.95, indicating volatility. The stock is trading above its moving averages, and there has been an increase in investor participation, with delivery volume rising by 19.48% against the five-day average.
In the broader market context, Amal Ltd's short-term performance has outpaced the benchmark Sensex, which only gained 0.79% over the past week compared to Amal's impressive 15.46% increase. However, the recent decline in price may be attributed to its high valuation metrics, as indicated by a Price to Book Value of 8.7, which suggests that the stock may be considered expensive. Furthermore, the relatively low stake held by domestic mutual funds at only 0.03% could indicate a lack of confidence among institutional investors regarding the stock's current price level. Despite the strong growth in net sales and profitability, these valuation concerns and the recent price drop may be contributing to the stock's current downward movement.