Why is Dixon Technolog. falling/rising?

As of 15-Sep, Dixon Technologies (India) Ltd is experiencing a decline in its stock price, currently at Rs 17,989.00, reflecting a decrease of Rs 110.1 or 0.61%. The stock has fallen after two consecutive days of gains, trading within a narrow range of Rs 176.9. Despite this recent downturn, the stock has shown strong performance over the past year, with a return of 38.14%, although it has underperformed the benchmark Sensex, which has gained 1.24% in the last week. The company has demonstrated solid long-term fundamentals, including a robust average Return on Equity (ROE) of 21.32% and significant growth in net sales and operating profit. However, the recent decrease in promoter stake by 3.32% may indicate reduced confidence in the company's future, which could be contributing to the stock's current decline.
In the broader market context, Dixon Technologies' recent performance contrasts with the benchmark, as it has underperformed the Sensex in the short term, despite its strong long-term returns. The stock's liquidity remains adequate for trading, but a notable drop in delivery volume by 7.29% against the five-day average suggests a decrease in investor participation. While the company has consistently reported positive results over the last ten quarters, the expensive valuation and the recent reduction in promoter confidence could be weighing on investor sentiment, leading to the stock's current downward movement.