Why is Le Travenues falling/rising?

As of 22-Sep, Le Travenues Technology Ltd is experiencing a decline in its stock price, currently at Rs 278.40, which reflects a decrease of Rs 6.85 or 2.4%. Today's performance indicates that the stock has underperformed its sector by 0.45% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 277.5, representing a drop of 2.72%. Over the past week, the stock has decreased by 3.97%, while its year-to-date performance remains strong with a 65.96% increase. Despite positive long-term growth indicators, such as a 53.20% annual growth in net sales and a healthy institutional holding of 70.84%, the stock's valuation appears expensive with a Price to Book Value of 17.2, which may be contributing to the recent price decline.
Broader market context shows that while the stock has generated impressive returns of 92.00% over the past year, the benchmark index, Sensex, has only returned -2.82% in the same period. However, in the short term, the stock's performance has lagged behind the benchmark, which has gained 0.46% over the past week. This underperformance, coupled with a recent trend reversal and rising investor participation, suggests that while the long-term outlook remains positive, short-term pressures and valuation concerns are influencing the stock's current downward movement.