Why is Garware Hi Tech falling/rising?

As of 18-Sep, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at Rs 3,363.35, reflecting a decrease of Rs 57.3 or 1.68%. The stock has underperformed its sector by 0.9% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.13% during this period. Despite having a strong long-term growth trajectory with net sales increasing at an annual rate of 20.40% and operating profit at 26.31%, the recent flat results in June, where net sales fell by 6.1% compared to the previous quarter, have negatively impacted investor sentiment. Additionally, the stock is trading at a premium valuation relative to its peers, which may contribute to the current price decline.
In the broader market context, the stock's performance over the past week shows a decline of 1.80%, while the benchmark Sensex has increased by 1.80%, indicating a significant underperformance relative to the market. Year-to-date, Garware Hi Tech has seen a substantial decline of 33.46%, contrasting sharply with the Sensex's gain of 6.24%. While the company maintains a strong market position, constituting 26.25% of its sector and generating consistent returns over the last three years, the recent financial results and high valuation concerns have overshadowed these strengths, leading to the current downward trend in stock price.