Why is Garware Hi Tech falling/rising?

As of 20-Aug, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at Rs 2,920.50, which reflects a decrease of Rs 90.5 or 3.01%. Today's price summary indicates that the stock has underperformed its sector by 1.36% and has fallen after two consecutive days of gains. The stock reached an intraday high of Rs 3,077.10 but also touched a low of Rs 2,885.45, suggesting volatility within the trading day. Over the past week, the stock has shown a positive return of 1.88%, but it has significantly underperformed over the past month with a decline of 21.07%. Despite a healthy long-term growth rate in net sales and operating profit, the stock's recent performance is hindered by flat quarterly results and an expensive valuation compared to its peers. Broader market context shows that while Garware Hi Tech has outperformed the Sensex in the short term, the overall year-to-date return is a stark -42.23% compared to the Sensex's positive 4.76%. This significant underperformance may be attributed to the company's recent flat results, which included a 6.1% decline in net sales compared to the previous quarter's average. Additionally, the stock's high price-to-book value ratio suggests it is trading at a premium, which could deter investors. The combination of these factors, including rising investor participation and liquidity, does not seem sufficient to counterbalance the negative sentiment surrounding the stock's recent performance.