Why is Garware Hi Tech falling/rising?

As of 11-Jul, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at 3,600.10, which reflects a decrease of 34.0 points or 0.94%. The stock has been on a downward trend, losing value for the last six consecutive days and showing a total decline of 12.79% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Despite the company declaring positive results over the last seven quarters, with significant growth in both profit after tax and net sales, the stock's recent performance has been negatively impacted by a 10.75% decline over the past week and a 17.55% drop over the last month.
In the broader market context, while the Sensex has only decreased by 1.12% over the past week, Garware Hi Tech's performance has significantly underperformed this benchmark. The stock's liquidity appears adequate, but there has been a notable drop in investor participation, with delivery volume falling by 31.25% compared to the 5-day average. Although institutional investors have increased their stake, indicating confidence in the company's fundamentals, the stock's high valuation relative to its peers, as evidenced by its Price to Book Value ratio, may be contributing to the selling pressure. Overall, the combination of declining short-term returns, high valuation concerns, and reduced trading activity has led to the stock's recent downward movement.