Why is Nava falling/rising?

As of 03-Sep, Nava Ltd's stock price is currently at 704.15, reflecting a slight decrease of 0.05 (-0.01%). The stock has recently hit a new 52-week high of Rs. 721 but has experienced a consecutive decline over the last two days, resulting in a total drop of 1.17% during this period. Despite this recent downturn, Nava has shown strong performance over the longer term, with a remarkable 47.02% return over the past year and a staggering 537.67% increase over the last three years. The company maintains a low Debt to EBITDA ratio of 1.23 times, indicating a strong ability to service its debt, which is a positive factor for investors. Additionally, institutional investors have increased their stake in the company, suggesting growing confidence in its fundamentals.
In the broader market context, while Nava's stock has experienced a minor decline recently, it has outperformed the Sensex, which has seen a slight decrease of 0.27% over the past week. Over the past month, Nava has gained 13.11%, contrasting with the Sensex's near flat performance of -0.04%. This indicates that while the stock is facing short-term challenges, its long-term trajectory remains strong compared to the broader market. However, a notable decline in investor participation, with delivery volume falling by 40.77% against the 5-day average, may signal caution among retail investors, potentially impacting future price movements.