Why is Ethos Ltd falling/rising?

As of 25-Aug, Ethos Ltd is experiencing a decline in its stock price, currently at 2,470.00, which reflects a decrease of 79.4 points or 3.11%. The stock has underperformed its sector by 5.42% today and has been on a downward trend for the last two days, accumulating a total loss of 3.23%. It reached an intraday low of Rs 2,456.05, indicating significant selling pressure. Over the past week, the stock has fallen by 6.76%, and its year-to-date performance shows a decline of 11.60%, contrasting sharply with the broader market, which has seen a 4.48% increase. The company's recent financial results have also raised concerns, with a notable drop in profit after tax and a low return on capital employed, contributing to its expensive valuation relative to peers.
In the broader market context, Ethos Ltd's performance has lagged behind the benchmark, as evidenced by its one-year return of -14.14% compared to the BSE500's decline of only -2.11%. This underperformance is compounded by a significant drop in investor participation, with delivery volumes plummeting by 86.16% against the five-day average. While the company has demonstrated strong long-term growth in net sales and operating profit, the recent negative quarterly results and high price-to-book ratio suggest that investors are cautious, leading to the stock's current downward trajectory amidst a generally positive market environment for its sector.