Why is Delhivery falling/rising?

As of 24-Jul, Delhivery Ltd's stock price is currently at Rs. 438.30, reflecting a decrease of Rs. 5.35 or 1.21%. The stock recently hit a new 52-week high of Rs. 449.3 but has since fallen after seven consecutive days of gains. Despite this decline, the stock has shown strong performance over the past month with a return of 16.20%, significantly outperforming the Sensex, which only increased by 0.16%. The company has reported positive results for the last four consecutive quarters, with a remarkable growth in profit after tax and high institutional holdings at 82.54%, indicating strong investor confidence. However, the stock's long-term fundamentals are weak, with a low return on equity and poor ability to service debt, which may contribute to the recent price drop.
In the broader market context, Delhivery's recent performance contrasts with the Sensex, which has seen a slight decline of 0.09% over the past week. While Delhivery has outperformed the market in the short term, the current price movement suggests a correction after a period of strong gains. The stock's liquidity remains healthy, and rising investor participation indicates ongoing interest, but the negative operating profits and weak long-term growth prospects may be causing caution among investors. Overall, while the stock has shown resilience and positive short-term returns, the combination of recent price corrections and underlying fundamental weaknesses is influencing its current downward movement.