Why is Le Travenues falling/rising?

As of 30-Jul, Le Travenues Technology Ltd's stock price is currently at Rs. 231.00, reflecting a decrease of 0.75, or 0.32%. Despite this decline, the stock has shown strong performance over the past week, with a return of 4.17%, and a remarkable increase of 31.51% over the past month. The stock hit a new 52-week high of Rs. 235.7 earlier today, indicating positive momentum. However, it has experienced a trend reversal, falling after three consecutive days of gains. The company has demonstrated healthy growth, with net sales increasing at an annual rate of 53.20% and positive results reported for the last four quarters, which may have contributed to investor interest. Additionally, the stock has a low debt-to-equity ratio and high institutional holdings, suggesting confidence in its fundamentals.
In the broader market context, while Le Travenues has outperformed the benchmark Sensex, which has declined by 1.50% over the past week, the stock's recent price movement indicates a temporary pullback despite its overall strong performance. The stock's year-to-date return of 37.70% significantly outpaces the Sensex's 4.28% increase, highlighting its market-beating performance. However, the stock's valuation appears expensive with a price-to-book ratio of 14.2, which may raise concerns among some investors, especially given that its profits have only risen by 19% over the past year. This combination of factors may explain the current price decline despite the strong underlying performance.