Why is Anand Rathi Wea. falling/rising?

As of 23-Sep, Anand Rathi Wealth Ltd is experiencing a decline in its stock price, currently at Rs 2,966.00, which represents a decrease of Rs 68.9 or 2.27%. The stock has underperformed its sector by 2.6% today and has been on a downward trend for the last three days, accumulating a total loss of 3.02%. Despite this recent decline, the stock has shown strong performance over the past month with a 5.76% increase and a remarkable 50.18% rise year-to-date. However, the stock is currently 4.35% away from its 52-week high and has seen a significant drop in investor participation, with delivery volume decreasing by 27.82% compared to the five-day average. The company's strong long-term fundamentals, including a high return on equity and consistent profit growth, contrast with its high valuation and recent reduction in promoter confidence, which may be contributing to the stock's current downward movement.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark, with a 1-week return of -2.65% compared to the Sensex's -0.34%. While the stock has outperformed the benchmark over longer periods, such as a 1-year return of 53.30% against the Sensex's -3.33%, the recent decline may reflect concerns over its high valuation and decreasing promoter stake, which could signal reduced confidence in the company's future prospects. Overall, the combination of strong historical performance and current negative sentiment appears to be influencing the stock's recent price movement.