Why is Le Travenues falling/rising?

As of 23-Jul, Le Travenues Technology Ltd is experiencing a decline in its stock price, currently at Rs 221.75, which reflects a decrease of Rs 2.3 or 1.03%. The stock has recently shown strong performance, with a 23.81% increase over the past week and a 30.83% rise over the past month. However, it has fallen after five consecutive days of gains, and the delivery volume has decreased by 7.88% compared to the five-day average, indicating a drop in investor participation. Despite this, the stock is trading above its moving averages, suggesting underlying strength. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 53.20% and operating profit at 58.38%. However, it faces challenges with a high valuation, as indicated by its price-to-book ratio of 13.7, which may be impacting investor sentiment.
In the broader market context, Le Travenues has outperformed the benchmark, generating a return of 29.11% over the past year compared to the BSE500's return of only 1.79%. This strong performance may have initially attracted investors, but the recent price decline could be a result of profit-taking after significant gains. The stock's performance over the last week and month significantly exceeds that of the benchmark, suggesting that while the stock has been strong, the recent pullback may be a natural correction in response to reduced trading volume and the stock's high valuation.