Why is Himadri Special falling/rising?

As of 11-Jul, Himadri Speciality Chemical Ltd is experiencing a decline in its stock price, currently at Rs 498.90, reflecting a decrease of Rs 10.2 or 2.0%. Today's performance indicates that the stock has underperformed its sector by 0.65% and has fallen after three consecutive days of gains. The stock reached an intraday low of Rs 496, which is a 2.57% drop. Over the past week, the stock has shown a slight decline of 0.08%, while it has performed better over the past month with a gain of 2.55%. Despite the recent downturn, the company has demonstrated strong fundamentals, including a low Debt to EBITDA ratio of 1.44 times, consistent positive results over the last 12 quarters, and a healthy growth rate in net sales and operating profit. However, the stock is perceived as expensive with a high Price to Book Value of 6.6, which may be contributing to the current selling pressure.
In the broader market context, the stock's short-term performance has been relatively stable compared to the benchmark, as it has outperformed the Sensex over the past month while the benchmark has seen a slight decline of 0.02%. However, the year-to-date performance shows a significant underperformance of 14.71% compared to the Sensex's gain of 5.58%. The recent decrease in investor participation, with a 9.22% drop in delivery volume against the five-day average, suggests a waning interest among retail investors, which could further impact the stock's price negatively. Despite the increasing stake of institutional investors, the overall market sentiment appears cautious, contributing to the stock's current downward trend.