Why is Blue Jet Health falling/rising?

As of 31-Jul, Blue Jet Healthcare Ltd's stock price is currently at Rs 806.00, reflecting an increase of Rs 10.65 or 1.34%. Despite opening lower with a loss of 2.24% today, the stock reached an intraday high of Rs 814.9, indicating some recovery. Over the past week, the stock has seen a decline of 0.84%, and over the past month, it has decreased by 4.65%. However, on a year-to-date basis, it has outperformed significantly with a return of 42.04%. The company has demonstrated strong long-term fundamentals, with a notable growth in net sales and operating profit, and has consistently reported positive results over the last four quarters. Nonetheless, there are concerns regarding falling investor participation, as delivery volume has dropped significantly, and institutional investors have reduced their stakes.
In the broader market context, the stock has outperformed the benchmark Sensex, which has declined by 1.22% over the past week and 3.00% over the past month. While Blue Jet Healthcare has shown impressive returns of 69.90% over the past year, the overall market has struggled, with the BSE500 generating negative returns of 3.20%. This contrast highlights the company's strong market position, as it constitutes 32.00% of its sector and has a robust market cap of Rs 13,797 crore. However, the stock's relatively high valuation and the recent decrease in institutional investor participation may pose risks to its future performance.