Why is Nava falling/rising?

As of 02-Sep, Nava Ltd's stock price is currently at 704.20, reflecting a decrease of 7.1 points or 1.0%. The stock recently reached a new 52-week high of Rs. 718.4 but has since fallen after two consecutive days of gains. Today, it underperformed its sector by 2.41%, touching an intraday low of Rs. 691.9. Despite this decline, Nava has shown strong performance over the past year, with a 49.24% return, and has consistently outperformed the BSE500 in the last three years. The company also benefits from a low Debt to EBITDA ratio of 1.23 times, indicating a strong ability to service its debt, and has seen increased participation from institutional investors, who now hold 10.66% of the company.
In the broader market context, Nava's short-term performance stands out positively against the benchmark, as it has gained 6.67% over the past week while the Sensex has declined by 0.78%. Over the past month, the stock has increased by 13.12%, contrasting with a slight drop in the benchmark of 0.55%. This strong relative performance suggests that while the stock is experiencing a temporary pullback, it remains robust compared to the overall market, supported by rising investor participation and consistent returns.