Why is Garware Hi Tech falling/rising?

As of 17-Sep, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at Rs 3,420.65, which reflects a decrease of 15.8 points or 0.46%. Today's price summary indicates that the stock has underperformed its sector by 0.4% and has shown a trend reversal after two consecutive days of gains. The stock reached an intraday high of Rs 3,582, representing a 4.24% increase, but trading volume has decreased significantly, with a 37.58% drop in delivery volume compared to the five-day average. Over the past week, the stock has gained 2.85%, and over the past month, it has risen by 23.18%, although it has a year-to-date decline of 32.33%. The company has a low debt-to-equity ratio and has shown healthy long-term growth, with net sales increasing at an annual rate of 20.40%, but it is facing challenges due to flat results in the latest quarter and a relatively high valuation compared to its peers.
In the broader market context, Garware Hi Tech's short-term performance has outpaced the Sensex, which has increased by 1.56% over the past week and 2.60% over the past month. Despite this, the stock's year-to-date performance is significantly lagging behind the benchmark, which has gained 5.83%. The company's consistent returns over the last three years and its position as the largest player in its sector, accounting for 26.32% of the industry, provide a solid foundation. However, the recent decline in stock price, coupled with falling investor participation and concerns over its valuation, suggests that market sentiment may be cautious despite the company's strong fundamentals.