Why is Garden Reach Sh. falling/rising?

As of 08-Aug, Garden Reach Shipbuilders & Engineers Ltd is experiencing a decline in its stock price, currently at Rs 2,519.90, which represents a decrease of Rs 24.15 or 0.95%. The stock has been on a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 5% during this period. Despite touching an intraday high of Rs 2,600.85, the stock's performance today has been characterized by lower trading volumes, with a weighted average price closer to the day's low of Rs 2,473.85. Over the past week, the stock has underperformed with a return of -2.36%, compared to the Sensex's decline of -0.92%. While the company has shown strong long-term fundamentals, including a low debt-to-equity ratio and significant growth in net sales and operating profit, the recent price movement reflects market volatility and a decrease in investor participation.
In the broader market context, the shipbuilding sector has also faced challenges, with a decline of -3.31%, which may contribute to the stock's recent performance. Although Garden Reach has outperformed the benchmark over longer periods, such as a year-to-date return of +55.78% compared to the Sensex's +2.20%, the short-term performance indicates a divergence from this trend. The stock's high valuation, indicated by a Price to Book Value of 17.1, may also be a factor in the recent price decline, as it trades at a premium compared to its peers. The decrease in delivery volume by 12.1% against the five-day average suggests a waning interest among retail investors, further impacting the stock's price negatively in the short term.