Why is Godrej Industrie falling/rising?

As of 24-Jun, Godrej Industries Ltd is experiencing a decline in its stock price, currently at Rs 1,259.00, which reflects a decrease of Rs 23.6 or 1.84%. The stock has underperformed its sector by 2.24% today and has been on a downward trend for the last two days, resulting in a total decline of 6.95% during this period. The stock touched an intraday low of Rs 1,245.4 and has seen a significant drop in delivery volume, falling by 55.83% compared to the 5-day average. Despite a strong performance over the past year, with a return of 51.38%, the recent price movement indicates a short-term struggle, particularly as it has underperformed the benchmark Sensex, which has gained 0.58% over the past week.
In the broader market context, while Godrej Industries has shown impressive long-term growth, outperforming the market significantly over the past year and three years, its recent performance contrasts with the benchmark's positive movement. The company's fundamentals remain strong, with rising promoter confidence and significant profit growth, suggesting that the decline may be more reflective of short-term market fluctuations rather than underlying weaknesses. The stock's attractive valuation and increased promoter stake indicate potential for recovery, but current investor participation and market sentiment appear to be weighing heavily on its price.