Why is Apar Inds. falling/rising?

As of 28-Jul, Apar Industries Ltd is experiencing a decline in its stock price, currently at Rs 8,699.50, which reflects a decrease of Rs 298.5 or 3.32%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 5.62% during this period. Today's trading saw the stock touch an intraday low of Rs 8,607.35, and it has underperformed its sector by 1.65%. Despite a strong long-term growth outlook, with net sales and operating profit increasing significantly, the stock's recent performance has been negatively impacted by falling investor participation, as evidenced by an 18.01% drop in delivery volume compared to the five-day average.
In the broader market context, Apar Industries Ltd's short-term performance has been notably weaker than the benchmark, with a 1-week return of -5.53% compared to the Sensex's -1.59%. While the stock has shown consistent returns over the past three years and has high institutional holdings, the recent price decline suggests that market sentiment may be shifting, particularly in light of the stock's premium valuation compared to peers and a slight decrease in profits over the past year. The combination of these factors indicates that while the company has strong fundamentals, current market dynamics are leading to a downward trend in its stock price.