Why is Jash Engineering falling/rising?

As of 18-Jul, Jash Engineering Ltd's stock price is currently at Rs 610.00, reflecting a decrease of Rs 1.65 or 0.27%. Despite this decline, the stock has shown strong performance in the past week and month, with returns of 5.18% and 11.78%, respectively. The stock is also close to its 52-week high, just 3.91% away from Rs 633.85. Today, it opened with a gain of 2.18% and reached an intraday high of Rs 625. The stock is trading above all its moving averages, indicating a positive trend. However, it has experienced a reversal after three consecutive days of gains. The company has demonstrated strong financial health with a low Debt to EBITDA ratio and has reported positive results for the last 11 quarters, which supports its valuation. Nonetheless, concerns about its high Price to Book Value and low domestic mutual fund ownership may contribute to the stock's current price movement.
In the broader market context, Jash Engineering's recent performance has outpaced the Sensex, which has seen a decline of 0.90% over the past week. This indicates that while the stock is facing some selling pressure today, it has been resilient compared to the overall market. The stock's ability to attract rising investor participation, as evidenced by a significant increase in delivery volume, suggests that there is still interest among investors despite the current price drop. However, the stock's valuation concerns and the lack of confidence from domestic mutual funds could be influencing its price dynamics in the context of a generally cautious market environment.