Why is Ashiana Housing falling/rising?

As of 23-Sep, Ashiana Housing Ltd. is experiencing a decline in its stock price, currently at 309.00, which reflects a decrease of 1.8 or 0.58%. The stock has underperformed in the short term, with a 1-week return of -0.71% compared to the Sensex's -0.34%. Additionally, it is trading below its moving averages across various time frames, indicating a bearish trend. The delivery volume has also decreased significantly, falling by 24.89% against the 5-day average, suggesting a reduction in investor participation. While the company has reported positive financial results after a series of negative quarters, including substantial growth in profit before tax and profit after tax, the stock's valuation remains high with a price-to-book ratio of 4, which may deter potential investors.
In the broader market context, Ashiana Housing's performance over the past month shows a decline of 0.90%, while the Sensex has gained 0.98%, highlighting a significant underperformance relative to the benchmark. The stock's year-to-date return of -11.08% starkly contrasts with the Sensex's positive return of 5.07%, further emphasizing its struggles in the current market environment. Despite the company's low debt-to-equity ratio and strong cash reserves, the overall sentiment appears to be negative, driven by concerns over its expensive valuation and declining profitability over the past year.