Why is Garware Hi Tech falling/rising?

As of 29-Sep, Garware Hi Tech Films Ltd is experiencing a decline in its stock price, currently at Rs 2,929.90, which represents a decrease of 84.45 points or 2.8%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 13.42% during this period. Although it opened with a gain of 5.83% today and reached an intraday high of Rs 3,189.95, it also touched a low of Rs 2,914, indicating high volatility with an intraday fluctuation of 7.79%. The stock's performance over the past week shows a significant drop of 11.32%, while it has gained 8.80% over the past month. However, year-to-date, it has suffered a substantial decline of 42.04%. Despite the company's healthy long-term growth in net sales and operating profit, the recent flat results in net sales and high valuation compared to peers have negatively impacted investor sentiment.
In the broader market context, Garware Hi Tech's recent performance has been notably worse than the benchmark, with the Sensex declining only 2.18% over the past week. The stock's year-over-year return of -17.93% starkly contrasts with the Sensex's decline of 6.08%, indicating a significant underperformance relative to the market. The company's low debt-to-equity ratio and strong market position are positive factors; however, the expensive valuation and recent flat quarterly results have contributed to the stock's downward trajectory. Overall, while there are some positive indicators, the combination of recent performance issues and market comparisons suggests that investor confidence is waning, leading to the current decline in stock price.