Why is Anand Rathi Wea. falling/rising?

As of 24-Jul, Anand Rathi Wealth Ltd is experiencing a decline in its stock price, currently at Rs. 2,630.80, which represents a decrease of Rs. 46.3 or 1.73%. The stock has recently hit a new 52-week high of Rs. 2,699.95 but has underperformed its sector by 0.99% today. After two consecutive days of gains, the stock has reversed its trend, touching an intraday low of Rs. 2,592.15, reflecting a drop of 3.17%. Despite a strong performance over the past month with a return of 26.79% and a year-to-date increase of 33.21%, the recent price movement is influenced by a decrease in investor participation, with delivery volume falling by 34.59% compared to the five-day average. Additionally, while the company has shown strong long-term fundamentals, including a high return on equity and consistent positive results, concerns about its expensive valuation and reduced promoter confidence due to a 4.57% decrease in their stake may be contributing to the current price decline.
In the broader market context, Anand Rathi Wealth Ltd has outperformed the Sensex over the past week, gaining 2.13% compared to the benchmark's slight decline of 0.09%. However, the stock's recent performance today contrasts with its strong historical returns, as it has generated a 39.00% return over the past year, significantly outperforming the Sensex's 2.54% increase. This suggests that while the stock has shown resilience and strong growth in the long term, the current market sentiment may be shifting due to the aforementioned concerns, leading to its recent price drop.