Why is Garware Hi Tech falling/rising?

As of 10-Jul, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at 3,634.10, reflecting a decrease of 20.9 points or 0.57%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total return of -11.97% over the past week. Additionally, it is trading below its moving averages across various timeframes, indicating a bearish trend. Despite these challenges, the company has shown positive financial performance with a significant growth in net sales and profit after tax over the last nine months, alongside a low debt-to-equity ratio and increasing participation from institutional investors, which may provide some support to the stock.
In the broader market context, Garware Hi Tech's recent performance contrasts sharply with the benchmark Sensex, which has only decreased by 0.06% over the same week. While the stock has generated a robust return of 55.10% over the past year, its recent declines highlight a disconnect between its historical performance and current market sentiment. The stock's relatively high valuation, indicated by its price-to-book ratio, may also be contributing to investor caution, especially as it trades at a premium compared to peers. Overall, the combination of recent underperformance and high valuation concerns appears to be driving the stock's current downward movement.