Why is Coromandel Inter falling/rising?

As of 06-Aug, Coromandel International Ltd's stock price is currently at Rs 2,502.70, reflecting a decrease of Rs 117.1 or 4.47%. The stock has underperformed its sector today by 2.02%, hitting an intraday low of Rs 2,481, which represents a decline of 5.3%. Over the past week, the stock has fallen by 5.63%, while it has shown a strong performance over the past month with an increase of 11.95%. Despite the recent drop, the company has demonstrated solid long-term fundamentals, including a high average Return on Equity (ROE) of 21.78% and significant growth in net sales. However, the stock is considered very expensive with a high Price to Book Value ratio, which may be contributing to the current price decline.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has only decreased by 1.15% over the past week. This indicates that while Coromandel International has been facing short-term challenges, it has outperformed the benchmark in the longer term, generating a return of 56.05% over the past year compared to the Sensex's 2.48%. The fertilizer sector as a whole has also seen a decline of 2.39%, which may be impacting investor sentiment towards Coromandel International. Despite the recent price drop, the company remains a significant player in its sector, holding a substantial market share and high institutional ownership, which could provide some support for its stock price in the long run.