Why is EMS falling/rising?

As of 24-Sep, EMS Ltd's stock price is currently at 573.00, reflecting a decrease of 3.45, or 0.6%. The stock has been experiencing a downward trend, having fallen for the last two consecutive days, resulting in a total decline of 1.28% during this period. In the past week, the stock has underperformed the benchmark, with a return of -1.64% compared to the Sensex's -1.18%. Additionally, the stock's performance over the last year shows a significant decline of 27.44%, while the company's profits have increased by 22%, indicating a disconnect between stock performance and profitability. The stock's valuation appears expensive with a Price to Book Value of 3.3, and domestic mutual funds hold only a minimal stake of 1.03%, suggesting a lack of confidence in the stock at its current price.
Broader market context indicates that EMS Ltd's recent performance is not isolated, as it has underperformed the broader market indices over various time frames. The stock's year-to-date return is notably poor at -32.59%, while the Sensex has gained 4.58% during the same period. This underperformance is compounded by falling investor participation, as evidenced by a 30.41% drop in delivery volume compared to the five-day average. Despite the company's healthy long-term growth in net sales and a low debt-to-equity ratio, the overall sentiment remains negative, reflecting broader concerns about the stock's valuation and future performance in the market.