Why is Max Estates falling/rising?

As of 25-Jun, Max Estates Ltd's stock price is currently at 511.75, reflecting a decrease of 4.25, or 0.82%. The stock has recently underperformed its sector by 2.03% and has experienced a trend reversal, falling after three consecutive days of gains. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 2.66% and 5.64%, respectively. The company has reported strong financial results, with net sales growing by 47.32% and a significant increase in profit after tax of 215.0% compared to the previous four-quarter average. Additionally, the company maintains a low debt-to-equity ratio and has high institutional holdings, which may provide some stability and confidence among investors.
In the broader market context, the Sensex has increased by 1.61% over the past week and 1.27% over the past month, indicating a generally positive market environment. However, Max Estates' year-to-date performance shows a decline of 9.90%, contrasting with the Sensex's gain of 5.91% during the same period. This underperformance may contribute to the stock's recent price drop, despite its positive quarterly results and rising investor participation, as indicated by the increase in delivery volume. The stock's liquidity remains adequate for trading, but the overall market sentiment and the stock's inability to maintain upward momentum could be influencing its current downward trend.