Why is Max Estates falling/rising?

As of 01-Sep, Max Estates Ltd is currently priced at 444.95, reflecting a slight increase of 0.85 or 0.19%. Despite this recent uptick, the stock has underperformed its sector by 0.83% today and has experienced a decline of 4.24% over the past week and 5.23% over the past month. The stock has been trading below its moving averages across various time frames, indicating a bearish trend. However, there has been a notable increase in investor participation, with delivery volume rising by 95.26% compared to the 5-day average. Additionally, the company has reported positive financial results over the last three quarters, with significant growth in both profit after tax and net sales, which may contribute to some investor confidence despite the overall downward trend.
In the broader market context, Max Estates has struggled significantly year-to-date, with a decline of 21.66%, while the benchmark Sensex has gained 2.85% during the same period. This stark contrast highlights the stock's underperformance relative to the market. Furthermore, while the stock has shown some signs of recovery after three consecutive days of decline, the overall trend remains negative when compared to the benchmark's performance. The high institutional holdings at 33.4% suggest that more informed investors are backing the company, which could provide some stability; however, the stock's long-term performance remains concerning, as evidenced by its 33.93% drop over the past year.