Why is Gravita India falling/rising?

As of 12-Aug, Gravita India Ltd is experiencing a decline in its stock price, currently at 1,780.20, which represents a decrease of 10.45 or 0.58%. The stock has underperformed its sector by 1.76% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 31.1% compared to the 5-day average. Over the past week, the stock has shown a modest gain of 0.14%, while the one-month return is positive at 2.41%. However, year-to-date, the stock has declined by 18.77%, despite reporting positive financial results in recent quarters, including a 35.48% growth in PAT and a healthy operating profit growth rate of 32.11%.
In the broader market context, Gravita India's short-term performance contrasts with the Sensex, which has decreased by 0.59% over the past week. The company's high management efficiency and strong ability to service debt are positive indicators; however, the stock's expensive valuation and decreasing promoter confidence, with a 3.39% reduction in their stake, may be contributing to the negative sentiment surrounding the stock. While the company has shown healthy growth in net sales and cash reserves, the overall market conditions and the stock's underperformance relative to its peers may be influencing investor decisions, leading to the current decline in price.