Why is Indef Manufactur falling/rising?

As of 12-Jun, Indef Manufacturing Ltd is experiencing a decline in its stock price, currently at Rs 407.60, which reflects a decrease of Rs 36.55 or 8.23%. Today's price summary indicates that the stock has underperformed its sector by 7.31% and has fallen after five consecutive days of gains. It opened with a gain of 3.11% but reached an intraday low of Rs 402.1, showcasing high volatility with an intraday range of Rs 55.85. Despite trading above its moving averages, the stock's delivery volume has decreased by 27.02% compared to the five-day average, indicating a drop in investor participation. Additionally, the company has shown poor long-term growth with net sales declining at an annual rate of 1.60% over the past five years, and its valuation appears expensive with a Price to Book Value of 5.2.
In the broader market context, the stock has significantly outperformed the benchmark Sensex over the past week and month, with returns of 41.72% and 86.12%, respectively, while the Sensex has only increased by 0.31% and decreased by 0.90% in the same periods. However, the recent decline in the stock price suggests a correction after a strong rally, compounded by the company's flat results and a return on equity of 13.5%, which may not justify its high valuation. Overall, while the stock has shown impressive short-term gains, the combination of declining sales, reduced investor participation, and high valuation concerns are contributing to its current downward movement.