Why is Gokaldas Exports falling/rising?

As of 26-Sep, Gokaldas Exports Ltd is experiencing a decline in its stock price, currently at Rs 737.65, which reflects a decrease of Rs 34.0 or 4.41%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 10.13% during this period. Additionally, it is trading below all key moving averages, indicating a bearish trend. The stock's performance over the past week shows a significant drop of 11.75%, while its year-to-date return is down by 34.81%. Despite the company reporting positive financial results in recent quarters, including a 52.6% growth in PAT, the high valuation metrics, such as a Price to Book Value of 2.6 and a low ROE of 6.2, suggest that the stock is expensive compared to its peers, contributing to the downward pressure on its price.
In the broader market context, Gokaldas Exports has underperformed relative to the benchmark, with the Sensex declining only 2.66% over the past week. The stock's significant drop in delivery volume, which has decreased by 54.65% against the five-day average, indicates falling investor participation, further exacerbating its price decline. The high percentage of pledged promoter shares (96.28%) adds to the negative sentiment, as it can lead to additional selling pressure in a declining market. Overall, while the company has demonstrated strong growth in sales and profits, the combination of high valuations, poor recent performance, and market conditions has led to a continued fall in its stock price.