Why is ASM Technologies falling/rising?

As of 24-Sep, ASM Technologies Ltd is experiencing a decline in its stock price, currently at Rs 4,335.70, which reflects a decrease of Rs 228.15 or 5.0%. Today's performance indicates that the stock has underperformed its sector by 4.34%, following a trend reversal after three consecutive days of gains. The stock touched an intraday low of Rs 4,335.70, and trading volume has been weighted towards this lower price. Despite this decline, ASM Technologies has shown strong performance over the past week, month, and year, with returns of +2.75%, +14.36%, and +156.13%, respectively. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio and significant growth in net sales and operating profit over recent quarters, which supports its long-term growth narrative.
In the broader market context, while ASM Technologies has outperformed the Sensex over various periods, including a remarkable 216.71% year-to-date return compared to the Sensex's 4.58%, the current decline may reflect a market correction after a period of rapid gains. The stock's recent performance contrasts with the Sensex, which has seen a slight decline of 1.18% over the past week. Despite the stock's strong fundamentals and positive growth indicators, its high valuation relative to peers and the recent price drop suggest that investors may be reassessing their positions, leading to the current downward movement.