Why is Interglobe Aviat falling/rising?

As of 03-Jul, Interglobe Aviation Ltd's stock price is currently at Rs 5,773.50, reflecting a decline of Rs 166.55, or 2.8%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 3.4% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a year-to-date increase of 26.81% and a one-year return of 34.95%. The stock is currently trading close to its 52-week high, just 4.26% away, and has outperformed its sector by 0.29%. However, the stock's liquidity appears to be decreasing, as evidenced by a 17.54% drop in delivery volume compared to the five-day average.
In the broader market context, while Interglobe Aviation's short-term performance has been negative, it has outperformed the Sensex over the past week, gaining 1.46% compared to the benchmark's decline of 0.62%. The airline sector as a whole has also faced challenges, with a decrease of 3.09%. Despite the recent price drop, the company maintains a high management efficiency with a return on capital employed (ROCE) of 17.04% and has shown healthy long-term growth, with net sales increasing at an annual rate of 17.71%. Additionally, high institutional holdings at 45.85% suggest confidence from more sophisticated investors, which may support the stock's recovery in the future.