Why is Garnet Construct falling/rising?

As of 17-Oct, Garnet Construction Ltd is experiencing a decline in its stock price, currently at Rs. 67.26, which reflects a decrease of Rs. 6.67 or 9.02%. Despite hitting a new 52-week high of Rs. 76 earlier today, the stock has underperformed its sector by 9.16%. After a streak of seven consecutive days of gains, the stock has shown a reversal in trend, falling significantly today with an intraday low of Rs. 66.54, indicating high volatility with a range of Rs. 9.46. However, the stock has demonstrated strong performance over the longer term, with a year-to-date increase of 80.32% and a three-year return of 225.71%, suggesting a robust overall growth trajectory despite today's decline.
In the broader market context, Garnet Construction's recent performance contrasts sharply with the Sensex, which has only increased by 1.76% over the past week. The stock's short-term volatility and decline today may be attributed to profit-taking after a substantial rally, as indicated by the high trading volume and the significant drop from its intraday high. While the stock remains liquid enough for trading, the recent downturn highlights a momentary correction in the face of otherwise strong historical returns.