Why is Max Estates falling/rising?

As of 24-Jul, Max Estates Ltd is experiencing a decline in its stock price, currently at Rs 523.05, reflecting a decrease of Rs 17.55 or 3.25%. The stock has underperformed its sector by 2.07% today and has been on a downward trend, falling for the last two days with a total decline of 4.9% during this period. Additionally, the stock's performance over the past week shows a slight decrease of 0.37%, while it has underperformed significantly year-to-date with a drop of 7.91%. Despite positive financial results in the last two quarters, including a substantial growth in net sales and profit after tax, the stock's recent movement is hindered by falling investor participation, as evidenced by an 89.79% drop in delivery volume compared to the five-day average.
In the broader market context, the Sensex has shown a slight decline of 0.09% over the past week, indicating that the market is relatively stable. However, Max Estates' year-to-date performance contrasts sharply with the Sensex, which has increased by 5.18%, highlighting the stock's struggle in comparison to the broader market. The high institutional holdings at 33.73% suggest that knowledgeable investors are backing the company, yet the recent liquidity issues and declining trading volumes may be contributing to the stock's downward pressure. Overall, while the fundamentals appear strong, the stock's current performance reflects a lack of investor confidence and market traction.