Why is ERIS Lifescience falling/rising?

As of 24-Jun, ERIS Lifesciences Ltd is experiencing a decline in its stock price, currently at Rs 1,605.90, reflecting a decrease of Rs 14.1 or 0.87%. The stock has been underperforming, having fallen for six consecutive days, resulting in a total decline of 13.48% during this period. Additionally, the stock's performance today has underperformed its sector by 1.08%. Despite a strong long-term performance with a 54.41% return over the past year, the recent downturn is compounded by a significant drop in investor participation, with delivery volume falling by 55.64% against the five-day average. While the company boasts high management efficiency and strong debt servicing capabilities, concerns about poor long-term growth and an expensive valuation relative to its peers may be contributing to the stock's current struggles.
In the broader market context, the stock's short-term return of -10.06% over the past week contrasts sharply with the Sensex, which has gained 0.58% during the same period. This underperformance highlights the challenges faced by ERIS Lifesciences Ltd in the current market environment, despite its historical outperformance over longer time frames. The stock's recent price movement reflects a combination of declining investor confidence and market dynamics that have not favored its recent performance, even as it continues to show strong fundamentals in the long run.