Why is ASM Technologies falling/rising?

As of 23-Jul, ASM Technologies Ltd's stock price is currently at Rs 3,180.70, reflecting a decrease of Rs 16.3 or 0.51%. The stock recently reached a new 52-week high of Rs 3,290 but has fallen after three consecutive days of gains. Despite this decline, the stock has shown strong performance over various periods, with a 10.37% increase over the past week and a remarkable 132.34% rise year-to-date. The company has demonstrated healthy financial metrics, including a low Debt to EBITDA ratio and significant growth in net profit and operating profit, which have contributed to its strong long-term growth prospects. However, the stock is considered expensive based on its valuation metrics, and the lack of domestic mutual fund investment may indicate some caution among institutional investors.
In the broader market context, ASM Technologies has significantly outperformed the benchmark Sensex, which has only increased by 0.11% over the past week, while ASM's stock has risen by over 10%. This trend of outperformance is consistent over longer periods, with the stock generating returns of 112.86% in the last year compared to the Sensex's 2.86%. The recent price drop, despite the overall strong performance, suggests a potential profit-taking scenario or market correction after reaching a high, which is common in volatile markets.