Why is Max Estates falling/rising?

As of 21-Jul, Max Estates Ltd is experiencing a decline in its stock price, currently at Rs 544.80, which reflects a decrease of Rs 6.95 or 1.26%. The stock has underperformed its sector today by 1.71% and has shown a trend reversal after two consecutive days of gains. During the trading session, it reached an intraday high of Rs 563.7 but also dipped to a low of Rs 540.5. Despite this decline, the stock has performed positively over the past week and month, with returns of +5.75% and +8.36%, respectively. The company has reported strong financial performance, with net sales growing by 47.32% and a significant increase in profit after tax, which has grown by 215% compared to the previous four-quarter average. Additionally, the company maintains a low debt-to-equity ratio and has high institutional holdings at 33.73%, indicating confidence from larger investors.
In the broader market context, while Max Estates has shown positive returns in the short term, the benchmark Sensex has remained relatively flat with a slight decline of 0.06% over the past week and 0.25% over the past month. This suggests that while Max Estates is outperforming the benchmark in the short term, the overall market sentiment may be affecting its current price movement. The stock's liquidity is adequate for trading, and there has been a notable increase in delivery volume, indicating rising investor participation. However, the recent price drop could be attributed to profit-taking after its recent gains, reflecting a cautious approach from investors amidst broader market conditions.