Why is Interglobe Aviat falling/rising?

As of 02-Jul, Interglobe Aviation Ltd's stock is currently priced at 5,940.05, reflecting a decrease of 25.8 points or 0.43%. The stock has been underperforming recently, having fallen for the last two consecutive days, resulting in a total decline of 0.61% during this period. Despite this recent downturn, the stock is trading close to its 52-week high, just 1.33% away from Rs 6,019.2. Over the past week, the stock has shown a positive return of 5.34%, and over the last month, it has increased by 11.40%. However, there has been a notable decline in investor participation, with delivery volume dropping by 17.49% compared to the five-day average. The company has demonstrated strong fundamentals, including a high return on capital employed (ROCE) of 17.04% and significant growth in net sales and operating profit, which may support its valuation despite the recent price drop.
In the broader market context, Interglobe Aviation's short-term performance has outpaced the Sensex, which has only increased by 0.79% over the past week. The stock's strong historical performance, with a 39.64% return over the past year and consistent returns over the last three years, indicates resilience compared to the benchmark. However, the recent decline in stock price could be attributed to a combination of falling investor participation and the stock's recent underperformance relative to its sector. While the company has shown positive results and high institutional holdings, the market's reaction may reflect caution among investors following two consecutive negative quarters prior to the latest positive results.