Why is Apar Inds. falling/rising?

As of 04-Jul, Apar Industries Ltd is experiencing a decline in its stock price, currently at Rs 8,645.00, which reflects a decrease of Rs 269.0 or 3.02%. Today's price summary indicates that the stock has underperformed its sector by 3.05% and has reversed its trend after four consecutive days of gains, touching an intraday low of Rs 8,506.85, marking a drop of 4.57%. Despite a positive performance over the past week (+2.48%) and month (+8.58%), the year-to-date return is notably negative at -16.14%. The company's fundamentals remain strong, characterized by low debt and healthy long-term growth, but recent profit declines and a premium valuation compared to peers may be contributing to the stock's current downward movement.
In the broader market context, while Apar Industries Ltd has outperformed the Sensex over the past week and month, it has underperformed significantly year-to-date compared to the benchmark, which has gained 6.77%. The stock's recent decline may be influenced by falling investor participation, as evidenced by a significant drop in delivery volume, which has decreased by 64.28% against the 5-day average. Additionally, despite high institutional holdings at 30.5%, which typically provide stability, the recent price movement suggests that market sentiment may be cautious, particularly in light of the stock's recent profit decline and its premium valuation.