Why is Concord Enviro falling/rising?

As of 17-Jul, Concord Enviro Systems Ltd is experiencing a decline in its stock price, currently at Rs 598.50, which reflects a decrease of Rs 6.55 or 1.08%. Today's performance indicates that the stock has underperformed its sector by 2.64% and has reversed its trend after two consecutive days of gains. Despite touching an intraday high of Rs 620, the stock's recent performance shows a modest increase of 0.22% over the past week and a more significant rise of 5.33% over the past month. However, the year-to-date return is notably negative at -19.56%, indicating ongoing challenges. The company has reported positive quarterly results, including the highest net sales and operating profit margins, but its profits have fallen by 39% over the past year, which may be contributing to investor concerns. Additionally, foreign institutional investors (FIIs) have decreased their holdings to 1.59%, which could signal a lack of confidence in the stock.
In the broader market context, the Sensex has declined by 1.12% over the past week, suggesting that the stock's short-term performance is slightly better than the benchmark. However, the stock's year-to-date performance significantly lags behind the Sensex, which has gained 5.27%. This disparity highlights the challenges faced by Concord Enviro amidst a generally improving market. The stock's liquidity appears adequate, with a significant increase in delivery volume, indicating rising investor participation, but the overall sentiment remains cautious due to the recent drop in FII holdings and the negative profit trend.