Why is Grasim Inds falling/rising?

As of 02-Jul, Grasim Industries Ltd is currently priced at 2,849.80, reflecting a decrease of 9.5 points or 0.33%. The stock is trading close to its 52-week high, being only 1.68% away from Rs 2,897.55. However, it has underperformed its sector by 1.71% today. Despite a strong long-term growth outlook, with net sales increasing at an annual rate of 13.81%, the stock's profits have fallen by 33.8% over the past year, which may be contributing to the current price decline. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 37.34% against the 5-day average, which could indicate waning interest among investors.
In the broader market context, Grasim's short-term performance over the past week shows a modest increase of 0.49%, while the benchmark Sensex has risen by 0.79%. Year-to-date, Grasim has outperformed the Sensex with a return of 16.38% compared to the benchmark's 6.75%. Despite its strong institutional holdings at 34.02%, which suggests confidence from larger investors, the recent decline in price may reflect concerns over profitability and reduced trading activity. Overall, while the company has demonstrated consistent returns and a solid market position, the combination of falling profits and decreased investor participation appears to be weighing on its stock price.