Why is KRN Heat Exchan falling/rising?

As of 24-Jul, KRN Heat Exchanger and Refrigeration Ltd is experiencing a decline in its stock price, currently at Rs 850.00, which reflects a decrease of Rs 18.0 or 2.07%. Today's price summary indicates that the stock has underperformed its sector by 1.63% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 842.9, marking a 2.89% drop. In terms of performance over different periods, the stock has shown a slight decline of 0.63% over the past week, but it has increased by 0.21% over the past month and has a strong year-to-date return of 21.19%. Positive factors include high management efficiency with a return on equity (ROE) of 20.30%, a low debt-to-EBITDA ratio of 0.37, and significant growth in net sales. However, the stock is considered very expensive with a high price-to-book value of 10.6, which may contribute to the current price decline.
In the broader market context, the stock's short-term performance has been weaker than the benchmark Sensex, which has only declined by 0.09% over the past week. While KRN Heat Exchanger has shown strong long-term growth and increasing institutional investor participation, the recent price drop may reflect concerns over its valuation and the stock's ability to sustain its growth momentum in the face of high expectations. The overall market sentiment appears to be cautious, which could be impacting the stock's performance negatively despite its strong fundamentals.