Why is Garware Hi Tech falling/rising?

As of 07-Jul, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at Rs 3,830.40, reflecting a decrease of Rs 203.5 or 5.04%. The stock has underperformed its sector by 3.53% today and has been on a downward trend for the last two days, with a total decline of 7.21% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Despite positive financial results over the past seven quarters, including a 52.17% growth in PAT and a 26.02% increase in net sales, the stock's performance has been negatively impacted by falling investor participation, as evidenced by a 5.78% decrease in delivery volume compared to the 5-day average.
In the broader market context, Garware Hi Tech's short-term performance has significantly lagged behind the benchmark, with a 1-week return of -9.07% compared to the Sensex's -0.20%. While the company has shown strong long-term returns, including a 50.94% increase over the past year, the current valuation appears expensive with a Price to Book Value of 3.8, which may deter some investors. The recent increase in institutional investor participation, which has risen by 1.23% in the last quarter, suggests that some market players still see potential in the stock, but the overall market sentiment and recent price movements indicate a cautious outlook.