Why is L&T Finance Ltd falling/rising?

As of 03-Jul, L&T Finance Ltd's stock price is currently at 203.25, reflecting a decrease of 2.9, or 1.41%. The stock has been underperforming recently, having fallen for the last two days with a total decline of 2.21%. It is also 3.12% away from its 52-week high of Rs 209.6. Despite this recent downturn, the stock has shown strong performance over the longer term, with a 49.89% increase year-to-date and a remarkable 195.85% rise over the past three years. The company has a fair valuation with a return on equity (ROE) of 10.3 and a price-to-book ratio of 2, indicating that it is trading at a premium compared to its peers. Additionally, institutional investors have increased their stake, which suggests confidence in the company's fundamentals.
In the broader market context, L&T Finance Ltd's recent short-term performance has been weaker than the benchmark, as it has declined by 1.36% over the past week while the Sensex has only decreased by 0.62%. This underperformance may be attributed to falling investor participation, as evidenced by a significant drop in delivery volume, which has decreased by 51.86% against the five-day average. However, the stock's long-term performance remains strong, outperforming the BSE500 over various periods, which may provide some reassurance to investors despite the recent price decline.