Why is Anand Rathi Wea. falling/rising?

As of 22-Sep, Anand Rathi Wealth Ltd is experiencing a decline in its stock price, currently at 3,034.80, which reflects a decrease of 5.35 points or 0.18%. The stock has underperformed its sector by 0.6% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 0.77% during this period. Despite this recent downturn, the stock has shown strong performance over the past month, with an increase of 8.21%, and an impressive year-to-date return of 53.66%. However, the stock is trading at a premium valuation, with a Price to Book Value of 37.3, which may be contributing to the current price movement as investors reassess its worth. Additionally, the reduction in promoter stake by 4.57% could signal a lack of confidence in the company's future, further impacting investor sentiment.
In the broader market context, the stock's short-term performance has lagged behind the benchmark Sensex, which has gained 0.46% over the past week. While Anand Rathi Wealth has outperformed the benchmark over longer periods, including a 55.63% return over the last year compared to the Sensex's decline of 2.82%, the recent price drop may reflect a market correction or profit-taking behavior among investors. The overall liquidity of the stock remains healthy, with rising delivery volumes, indicating that while there is some selling pressure, there is also continued interest from investors.