Why is Anand Rathi Wea. falling/rising?

As of 08-Aug, Anand Rathi Wealth Ltd is experiencing a slight decline in its stock price, currently at Rs 2,584.00, reflecting a decrease of Rs 5.7 or 0.22%. The stock has been on a downward trend for the last four days, resulting in a total drop of 2.41% during this period. Despite opening with a gain of 2.68% today and reaching an intraday high of Rs 2,659.1, the stock's performance has been negatively impacted by falling investor participation, as evidenced by a significant drop in delivery volume. Over the past week, the stock has decreased by 0.54%, although it has shown strong performance over the longer term with a 30.84% increase year-to-date and a remarkable 668.88% rise over the last three years. However, the stock's high valuation, indicated by a Price to Book Value of 31.8, and the recent reduction in promoter stake by 4.57% may contribute to investor concerns.
In the broader market context, the stock has outperformed the benchmark Sensex over the past month, where the Sensex has declined by 4.60% while Anand Rathi Wealth Ltd has increased by 24.39%. This indicates that, despite the recent short-term decline, the stock has maintained a strong position relative to the market. The company's solid long-term fundamentals, including a high return on equity and consistent profit growth, suggest potential for recovery. However, the combination of high valuation, reduced promoter confidence, and recent declines in trading volume may be weighing on investor sentiment, leading to the current price movement.