Why is Apollo Micro Sys falling/rising?

As of 22-Sep, Apollo Micro Systems Ltd is experiencing a decline in its stock price, currently at Rs 332.30, which reflects a decrease of Rs 11.5 or 3.34%. Today's price summary indicates that the stock has underperformed its sector by 2.28% and has fallen after two consecutive days of gains. The stock reached an intraday low of Rs 330, showing a drop of 4.01%. Despite a strong performance over the past year with a return of 210.13%, the stock's recent movement is affected by a significant drop in investor participation, with delivery volume falling by 62.8% against the 5-day average. Additionally, while the company has demonstrated healthy long-term growth with a net profit increase of 109.73% and consistent positive results over the last eight quarters, the high valuation indicated by a ROCE of 12.9 and 38.61% of promoter shares being pledged adds to the downward pressure on the stock.
In the broader market context, the stock has shown a short-term return of 0.87% over the past week, outperforming the Sensex, which has increased by only 0.46%. However, the significant drop in today's trading, coupled with a trend reversal and reduced liquidity, suggests that investor sentiment may be shifting. While the stock has outperformed the benchmark over longer periods, the recent performance indicates a potential concern among investors, particularly in light of the high valuation and pledged shares, which could lead to increased volatility in a falling market.