Why is Indegene falling/rising?

As of 31-Jul, Indegene Ltd's stock price is currently at Rs 544.00, reflecting a decrease of Rs 2.55 or 0.47%. The stock has been experiencing a downward trend, having fallen for the last two consecutive days with a total decline of 0.75% during this period. It has also underperformed in the short term, with a 1-week return of -2.27% and a 1-month return of -5.37%. Despite these declines, the company has shown strong fundamentals, including a high return on equity (ROE) of 15.55%, a low debt-to-equity ratio, and positive financial results in the latest quarter, which could provide some support for the stock's valuation.
In the broader market context, Indegene's performance has been weaker compared to the Sensex, which has seen a decline of only 1.22% over the past week. The stock's year-to-date performance is notably poor at -9.93%, contrasting sharply with the Sensex's gain of 3.90%. However, there is an increase in institutional investor participation, which has risen by 7.05% in the last quarter, indicating a potential positive outlook from more sophisticated investors. This could suggest that while the stock is currently facing downward pressure, the fundamentals and increasing institutional interest may provide a basis for future recovery.