Why is GE Vernova T&D falling/rising?

As of 18-Sep, GE Vernova T&D India Ltd's stock price is currently at Rs. 2,983.90, reflecting a decrease of Rs. 9.65 or 0.32%. The stock recently hit a new 52-week and all-time high of Rs. 3,024.95, but has experienced a trend reversal, falling after four consecutive days of gains. Despite this decline, the stock has shown strong performance over various periods, with a year-to-date return of 44.15% and a remarkable 75.01% increase over the past year. The company has demonstrated solid fundamentals, including a low Debt to EBITDA ratio of 1.00 times and impressive growth in net profit of 116.44%, which has contributed to its strong institutional holdings at 41.25%. However, the stock's high valuation, indicated by a Price to Book Value of 43.1, raises concerns about its expense relative to earnings growth.
In the broader market context, GE Vernova T&D's short-term performance has outpaced the benchmark Sensex, which has only increased by 1.80% over the past week, compared to the stock's gain of 8.41%. This suggests that while the stock has been performing well relative to the market, the recent decline may reflect profit-taking after a significant rally. The stock's liquidity remains strong, with a delivery volume increase of 7.67% against the five-day average, indicating continued investor interest despite the recent price drop. Overall, while the stock has shown resilience and strong returns, the current price movement may be influenced by market corrections following its recent highs.