Why is Nava falling/rising?

As of 01-Aug, Nava Ltd's stock price is currently at 618.10, reflecting a decrease of 11.9 points or 1.89%. The stock has recently experienced a trend reversal, falling after three consecutive days of gains. Today, it underperformed its sector by 0.36% and touched an intraday low of Rs 616.7, which is a decline of 2.11%. Despite this drop, the stock has shown strong performance over the past month with a return of 4.54%, and it has significantly outperformed the benchmark Sensex over various periods, including a remarkable 532.65% increase over the last three years. Additionally, the company has a low Debt to EBITDA ratio of 1.23 times, indicating a strong ability to service its debt, which may contribute to investor confidence.
In the broader market context, while Nava Ltd has shown resilience with a year-to-date return of 24.68%, the Sensex has only increased by 3.15% during the same period, highlighting the stock's relative strength. However, the recent decline in price could be attributed to a short-term correction after a period of gains, despite rising participation from institutional investors, who have increased their stake by 0.72% in the last quarter. This growing interest from institutional investors, who typically have more resources to analyze company fundamentals, may provide a stabilizing effect on the stock in the long run, even as it faces short-term volatility.