Why is GE Vernova T&D falling/rising?

As of 07-Aug, GE Vernova T&D India Ltd is currently priced at 2,770.20, reflecting a decrease of 28.7 points or 1.03%. The stock has been underperforming its sector today, with a performance drop of 1.18%. It has experienced consecutive declines over the last two days, totaling a 1.71% decrease. Despite this recent downturn, the stock has shown strong performance over the past month, with an 18.49% increase, and has consistently outperformed the benchmark Sensex over various periods, including a remarkable 2110.85% rise over the last three years. The company boasts a low Debt to EBITDA ratio of 1.00 times and has reported impressive growth metrics, including a 116.44% increase in net profit and a return on capital employed (ROCE) of 46.14%. However, the stock is considered expensive with a high price-to-book value of 40, which may be contributing to the recent price decline.
In the broader market context, GE Vernova T&D's short-term performance has been favorable compared to the Sensex, which has declined by 0.69% over the past week. Despite the stock's recent price drop, its long-term growth prospects remain strong, as evidenced by consistent returns and positive financial results over the last nine quarters. However, the falling investor participation, indicated by a 36.8% drop in delivery volume, suggests a potential lack of confidence among retail investors, which could be influencing the stock's current downward trend. Overall, while the company has solid fundamentals and growth potential, the combination of high valuation concerns and reduced trading activity may be impacting its recent stock price movement.