Why is Kaynes Tech falling/rising?

As of 03-Jul, Kaynes Technology India Ltd is currently priced at Rs 6,179.30, reflecting a decrease of Rs 104.1 or 1.66%. Today's price summary indicates that the stock has underperformed its sector by 4.94% and has experienced a trend reversal after four consecutive days of gains, touching an intraday low of Rs 6,151.1. Despite trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, the stock's recent performance has been mixed, with a year-to-date decline of 16.65% against a market increase of 6.53%. Positive factors include strong growth in net sales and profits, but the stock's high valuation and decreasing promoter confidence, with a 4.23% reduction in their stake, may be contributing to its recent price decline.
Broader market context shows that while Kaynes Tech has generated a substantial return of 54.98% over the past year, it has underperformed the benchmark Sensex in the short term, with a 1-month return of 6.76% compared to the Sensex's 3.10%. The electronics components sector has seen a gain of 3.26%, indicating a favorable environment for the industry, yet Kaynes Tech's stock is struggling to maintain momentum. The combination of high valuation concerns, reduced promoter confidence, and recent underperformance relative to both its sector and the broader market may be influencing the stock's current downward trajectory.