Why is Manappuram Fin. falling/rising?

As of 24-Sep, Manappuram Finance Ltd is experiencing a decline in its stock price, currently at Rs 287.50, reflecting a decrease of Rs 5.8 or 1.98%. The stock has underperformed its sector today, with a performance drop of 1.89%. Over the past two days, it has seen consecutive falls totaling 2.24%, and it opened with a loss of 2.71%. Despite being close to its 52-week high, the stock's recent performance has been impacted by a significant drop in delivery volume, which fell by 19.36% compared to the five-day average. However, the company maintains strong long-term fundamentals, with a robust average return on equity of 16.74% and high institutional holdings that have increased by 1.91% over the previous quarter.
In the broader market context, Manappuram Finance's short-term return over the past week is -1.96%, which is worse than the benchmark Sensex's decline of 1.18%. Despite the recent downturn, the stock has shown impressive performance over longer periods, with a year-to-date increase of 52.72% compared to the Sensex's 4.58%. This indicates that while the stock is currently facing short-term challenges, its long-term trajectory remains strong, supported by consistent returns and institutional confidence.