Why is Apar Inds. falling/rising?

As of 31-Jul, Apar Industries Ltd is experiencing a decline in its stock price, currently at 8,905.25, reflecting a decrease of 755.7 points or 7.82%. The stock has underperformed its sector by 6.04% today and has been on a downward trend for the last two days, accumulating a total loss of 8.07%. It opened with a gap down of 2.19% and reached an intraday low of Rs 8,836.5. Over the past week, the stock has decreased by 2.16%, while its year-to-date performance shows a significant decline of 13.61%, contrasting with the Sensex's gain of 3.90%. Despite this recent downturn, the company has strong long-term fundamentals, including a low debt-to-equity ratio and impressive growth in net sales and operating profit, which could support future recovery.
In the broader market context, Apar Industries Ltd's short-term performance has lagged behind the Sensex, which has only fallen by 1.22% over the past week. The stock's recent struggles may be attributed to its consecutive price declines and the current market sentiment, despite its high institutional holdings and favorable long-term growth indicators. The company is rated highly among its peers, which suggests that while the stock is facing short-term challenges, its strong fundamentals and institutional backing could provide a foundation for potential recovery in the future.