Why is MPS falling/rising?

As of 23-Sep, MPS Ltd. is experiencing a decline in its stock price, currently at 2,266.40, reflecting a decrease of 9.5 points or 0.42%. Despite this drop, the stock has shown resilience in the past week, outperforming its sector by 0.44% and achieving a 1-week return of 0.77%. However, it has recently faced a trend reversal after seven consecutive days of gains. The stock's moving averages indicate it is performing better than its 5-day and 20-day averages but is lagging behind the longer-term averages. Additionally, the company has reported positive financial results over the last four quarters, with significant growth in both profit before tax and profit after tax, contributing to a high return on capital employed. Nevertheless, the stock is perceived as expensive, trading at a premium compared to peers, which may be causing some investor hesitation.
In the broader market context, MPS Ltd. has outperformed the benchmark Sensex over various periods, including a year-to-date return of 13.98% compared to the Sensex's 5.07%. However, the stock's recent performance contrasts with the overall market trend, as the BSE500 index has generated negative returns of -4.69% in the last year. The decline in investor participation, as evidenced by a drop in delivery volume, may indicate a lack of confidence among investors, particularly given that domestic mutual funds hold only a minimal stake in the company. This could suggest that institutional investors are cautious about the stock's current valuation despite its strong operational performance.