Why is Delhivery falling/rising?

As of 05-Aug, Delhivery Ltd's stock is currently priced at Rs 458.50, reflecting a decrease of Rs 2.9 or 0.63%. The stock has recently underperformed its sector by 0.39% and has experienced a trend reversal after three consecutive days of gains. It is currently 1.18% away from its 52-week high of Rs 463.9 and reached an intraday low of Rs 450.8, which is a decline of 2.3%. Despite this short-term decline, the stock has shown strong performance over the past week and month, with returns of 8.58% and 17.78%, respectively. The company has reported positive financial results, including a 77.25% growth in net profit and consistent positive results over the last five quarters, which may support investor confidence despite the current price drop.
Broader market context indicates that while Delhivery's stock has generated a return of 12.93% over the past year, significantly outperforming the broader market's return of 0.50%, it is still facing challenges in the short term. The Sensex has declined by 0.77% over the past week, while Delhivery has managed to rise, indicating that the stock's recent performance is somewhat insulated from broader market trends. High institutional holdings at 82.54% suggest that informed investors continue to support the stock, which could provide a buffer against market volatility. However, the recent price decline may reflect profit-taking or market corrections following its previous gains.