Why is Ashiana Housing falling/rising?

As of 10-Nov, Ashiana Housing Ltd. is currently priced at 272.60, reflecting a decrease of 1.65, or 0.6%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 3.67% during this period. Although it opened with a gain of 2.57% today and reached an intraday high of Rs 281.3, it ultimately closed lower. Over the past week, the stock has decreased by 4.72%, and its year-to-date performance shows a significant decline of 21.55%. Despite a low debt-to-equity ratio and positive quarterly results indicating substantial growth in profit before tax and net profit, the stock's high valuation relative to peers and a return on equity of only 5.2% have contributed to its recent struggles.
In the broader market context, Ashiana Housing has notably underperformed compared to the Sensex, which has gained 6.91% year-to-date, while Ashiana has lost 21.55%. This stark contrast highlights the stock's challenges, particularly as it has generated negative returns of 11.58% over the past year, while the broader market has seen positive returns. The stock's performance today also lagged behind its sector by 0.55%, indicating a lack of investor confidence despite increased trading volume. Overall, the combination of high valuation concerns, recent poor performance, and underwhelming returns relative to the market has led to the stock's downward movement.