Why is Ethos Ltd falling/rising?

As of 28-Jul, Ethos Ltd's stock price is currently at 2,858.15, reflecting a decrease of 7.7 points or 0.27%. Today, the stock opened with a notable gain of 8.8%, reaching an intraday high of Rs 3,117.95, but has since experienced high volatility with an intraday fluctuation of 8.07%. Despite this initial surge, the stock has underperformed in the short term, with a weekly return of -0.06% and a yearly return of -9.11%. However, the company demonstrates strong fundamentals, including a low Debt to EBITDA ratio of 0.55 times, robust net sales growth of 29.43%, and an increase in institutional holdings by 1.22% over the previous quarter, which suggests a healthy long-term outlook.
In the broader market context, Ethos Ltd's recent performance contrasts with the benchmark Sensex, which has declined by 1.59% over the past week. While the stock has shown resilience with a 10.95% increase over the past month, it still lags behind the year-to-date performance of the Sensex, which is up by 3.52%. The falling investor participation, indicated by a 74.6% drop in delivery volume, may also contribute to the stock's current downward pressure despite its strong fundamentals and positive institutional interest.