Why is Max Healthcare falling/rising?

As of 04-Jul, Max Healthcare Institute Ltd's stock price is currently at Rs. 1,294.00, reflecting a decrease of Rs. 12.6 or 0.96%. The stock has recently hit a new 52-week high of Rs. 1,314.3 but has underperformed its sector by 1.8% today. After three consecutive days of gains, the stock is experiencing a trend reversal. Despite this decline, the stock has shown strong performance over various periods, with a 1-month return of 13.10% and a year-to-date return of 14.77%. The company maintains a low debt-to-equity ratio and has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 29.43% and operating profit at 62.81%. High institutional holdings at 72.32% suggest confidence from knowledgeable investors, which may support the stock's fundamentals despite the recent price drop.
In the broader market context, Max Healthcare's short-term performance has outpaced the Sensex, which has declined by 0.74% over the past week while Max Healthcare rose by 1.30%. However, the recent fall in investor participation, with delivery volume decreasing by 33.64% against the 5-day average, may indicate a potential concern among retail investors. The stock's liquidity remains adequate for trading, but the decline in participation could contribute to the downward pressure on the stock price. Overall, while the company has strong fundamentals and a solid track record, the recent price movement reflects a combination of profit-taking after a strong rally and reduced trading activity.