Why is Garden Reach Sh. falling/rising?

As of 26-Jun, Garden Reach Shipbuilders & Engineers Ltd is experiencing a decline in its stock price, currently at Rs 2,980.35, reflecting a decrease of Rs 24.75 or 0.82%. The stock has been on a downward trend, losing value for the last three days and showing a significant drop of 14.66% during this period. Despite touching an intraday high of Rs 3,087.05, the stock's performance today has been characterized by higher trading volume near its low price of Rs 2,852.65. Over the past week, the stock has underperformed with a return of -4.99%, although it has shown strong performance over longer periods, including a year-to-date increase of 84.24% and a three-year increase of 1,196.09%. The company is recognized for its strong fundamentals, including low debt and impressive growth in net sales and profits, which contribute positively to its long-term outlook.
In the broader market context, the stock's recent decline contrasts with the Sensex, which has gained 2.94% over the past week. While the stock has outperformed the sector today by 1.14%, the consecutive falls and the current price movement suggest a correction phase after a significant rise in previous months. The company's high valuation, indicated by a Price to Book Value of 20.4, may also be contributing to investor caution, despite its strong return on equity and consistent performance over the past three years. The market's reaction to the stock's premium valuation compared to peers could be influencing the recent price decline, even as the company maintains strong long-term growth prospects.