Why is Jubilant Ingrev. falling/rising?

As of 31-Jul, Jubilant Ingrevia Ltd is experiencing a decline in its stock price, currently at Rs 783.65, which reflects a decrease of Rs 31.35 or 3.85%. The stock has underperformed its sector by 2.36% today, following a trend reversal after three consecutive days of gains. Throughout the day, it reached a high of Rs 845.95 and a low of Rs 775.25, indicating significant volatility. Over the past week, the stock has decreased by 4.55%, while it has shown a modest gain of 2.01% over the past month. Despite a strong performance over the last year with a return of 28.47%, the stock's recent movement is impacted by a drop in investor participation, as evidenced by a 40.52% decline in delivery volume compared to the five-day average.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark, with the Sensex declining only 1.22% over the past week. While Jubilant Ingrevia has demonstrated a strong ability to service debt and has reported positive results for the last three consecutive quarters, the current market conditions and recent price movements suggest a cautious sentiment among investors. The stock's fair valuation and historical performance indicate potential, but the recent decline in trading volume and the stock's underperformance relative to the sector may be contributing to the downward pressure on its price.