Why is Grasim Inds falling/rising?

As of 27-Jun, Grasim Industries Ltd is currently priced at 2,864.85, reflecting a decrease of 15.15 points or 0.53%. The stock has recently hit a new 52-week high of Rs. 2897.55 but has underperformed its sector by 2.2% today. After experiencing six consecutive days of gains, the stock is now showing a trend reversal. Despite trading above its moving averages across various timeframes, there has been a decline in investor participation, with delivery volume falling by 1.94% compared to the five-day average. Over the past week, the stock has increased by 5.72%, and year-to-date, it has risen by 16.99%, indicating strong long-term growth potential, although profits have fallen by 33.8% over the past year.
In the broader market context, Grasim's short-term performance has outpaced the Sensex, which has only increased by 2.00% over the past week. The stock's strong institutional holdings at 34.02% suggest confidence from larger investors, who have increased their stakes recently. However, the stock's recent decline may be attributed to profit concerns despite its attractive valuation compared to peers. The company has demonstrated consistent returns over the last three years, outperforming the BSE 500, which may provide some reassurance to investors amidst the current price drop.