Why is Apar Inds. falling/rising?

As of 22-Sep, Apar Industries Ltd is experiencing a decline in its stock price, currently at 8,710.00, reflecting a decrease of 131.5 points or 1.49%. The stock has underperformed its sector by 0.87% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.79% during this period. Despite a positive performance over the past week and month, with returns of 1.57% and 6.17% respectively, the year-to-date performance shows a significant drop of 15.51%. The company has strong long-term fundamentals, including a low debt-to-equity ratio and a high return on capital employed, which suggest potential for growth. However, the recent decline may be influenced by falling investor participation, as evidenced by a decrease in delivery volume.
In the broader market context, Apar Industries Ltd's short-term performance has outpaced the benchmark Sensex, which has only increased by 0.46% over the past week. However, the stock's year-to-date performance contrasts sharply with the Sensex's gain of 5.15%, indicating a struggle to maintain investor confidence despite its strong fundamentals. The high institutional holdings at 30.86% suggest that knowledgeable investors are backing the company, yet the recent price drop may reflect broader market sentiments or specific concerns that have led to reduced trading activity.