Why is Interglobe Aviat falling/rising?

As of 21-Aug, Interglobe Aviation Ltd is experiencing a decline in its stock price, currently at Rs 6,098.35, which reflects a decrease of Rs 52.5 or 0.85%. The stock is trading close to its 52-week high, just 2.08% away from Rs 6,225.05, and has shown positive performance over the past week and month, with returns of 1.86% and 3.71%, respectively. However, the stock's intraday low of Rs 6,010 indicates some volatility, and a notable drop in investor participation, with delivery volume falling by 28.45% against the 5-day average, may be contributing to the price decline. Despite a high return on capital employed and consistent long-term growth, the recent decrease in profits and a high debt-to-equity ratio raise concerns among investors, particularly as promoter confidence appears to be waning with a 5.73% reduction in their stake.
In the broader market context, Interglobe Aviation's short-term performance has outpaced the Sensex, which has seen a return of 1.74% over the past week. The stock's year-to-date return of 33.94% significantly surpasses the Sensex's 4.94%, indicating strong relative performance. However, the overall market sentiment may be influenced by the company's recent financial results, which showed a substantial decline in profit before tax and net profit, alongside a reliance on non-operating income. These factors, combined with the reduced stake of promoters, could be creating a cautious outlook among investors, leading to the current downward pressure on the stock price.