Why is Apeejay Surrend. falling/rising?

As of 11-Nov, Apeejay Surrendra Park Hotels Ltd is experiencing a decline in its stock price, currently at 143.85, reflecting a decrease of 0.95 or 0.66%. The stock has been losing value for the last two days, with a total drop of 2.8% during this period. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, while there has been a rise in delivery volume by 5.15% against the 5-day average, the stock has underperformed significantly over various time frames, with a year-to-date decline of 22.07% compared to a 7.34% gain in the benchmark. The company's recent financial performance shows a decline in profit after tax by 33.7% compared to the previous four-quarter average, which, combined with a high price-to-book value ratio of 2.4, suggests an expensive valuation that may deter investors.
In the broader market context, the stock's performance has been notably weaker than the benchmark, as it has consistently underperformed against the BSE500 over the last three years. The stock's one-year return of -4.86% contrasts sharply with the benchmark's gain of 5.50%, highlighting a significant divergence in performance. Furthermore, there has been a decrease in institutional investor participation, with a 0.9% reduction in their stake, which may reflect a lack of confidence in the company's fundamentals. This combination of declining financial metrics, underperformance relative to the market, and reduced institutional interest contributes to the stock's current downward trajectory.