Why is eMudhra falling/rising?

As of 10-Nov, eMudhra Ltd's stock price is currently at Rs. 621.20, reflecting a decrease of Rs. 10.6, or 1.68%. The stock has hit a new 52-week low today and has been on a consecutive decline for the last six days, resulting in a total drop of 4.89% during this period. Over the past week, eMudhra has underperformed the sector by 3.26%, and its performance over the last month shows a decline of 6.60%. Despite the company's strong fundamentals, including a high return on equity (ROE) of 16.41% and consistent positive results over the last 13 quarters, the stock has struggled, with a year-to-date decline of 33.91%. The high valuation, indicated by a price-to-book ratio of 6.9, coupled with a significant underperformance compared to the market, has contributed to the stock's downward movement.
In the broader market context, eMudhra's short-term performance has been notably worse than the benchmark, with a 1-week return of -3.04% compared to the Sensex's -0.53%. This stark contrast highlights the stock's struggles relative to the overall market, which has seen positive returns over the past year. While the company has demonstrated healthy long-term growth with a net sales increase of 44.36%, the stock's recent performance indicates that investor sentiment remains cautious, particularly given its high valuation and the significant negative returns over the past year.