Why is Ashiana Housing falling/rising?

As of 15-Oct, Ashiana Housing Ltd. is currently priced at 288.10, reflecting a decrease of 1.9, or 0.66%. The stock has been underperforming, having fallen for the last four consecutive days, resulting in a total decline of 3.19% during this period. It has also underperformed its sector by 3.21% today. The stock is trading below all its moving averages, indicating a bearish trend. Over the past week, Ashiana Housing has seen a decline of 3.03%, and a significant drop of 17.09% year-to-date, while its profits have decreased by 40.3% over the past year. Although the company reported positive results in June 2025, including substantial growth in profit before tax and cash equivalents, its valuation remains high, with a price-to-book ratio of 3.7, which is considered expensive compared to its peers.
In the broader market context, the Sensex has gained 1.02% over the past week, contrasting sharply with Ashiana Housing's performance. The construction and real estate sector has also seen a rise of 2.6%, further highlighting the stock's underperformance. Despite an increase in investor participation, as evidenced by a 44.82% rise in delivery volume, the overall sentiment towards Ashiana Housing remains negative due to its declining returns and high valuation relative to its peers. This combination of factors contributes to the stock's downward movement in the current market environment.