Why is Garware Tech falling/rising?

As of 07-Jul, Garware Technical Fibres Ltd is currently priced at 904.35, reflecting a decrease of 2.05, or 0.23%. The stock opened the day with a gain of 3.58%, reaching an intraday high of Rs 938.85, but ultimately closed lower. Despite this decline, the stock has outperformed its sector by 0.43%. Over the past week, Garware has seen a return of -2.40%, while its one-year performance remains strong at +13.52%, significantly higher than the benchmark's return of 4.31%. The company benefits from high management efficiency, a low debt-to-equity ratio, and strong institutional holdings, which contribute positively to its valuation. However, concerns about poor long-term growth and a high price-to-book ratio may be weighing on investor sentiment.
In the broader market context, Garware's recent performance contrasts with the Sensex, which has only declined by 0.20% over the past week. While the stock has shown resilience in the long term with a 42.66% return over three years, its short-term struggles may reflect broader market conditions or sector-specific challenges. The stock's liquidity remains adequate, suggesting that trading activity is sufficient, but the recent drop in price indicates that investors may be cautious given the company's high valuation relative to its earnings growth.