Why is Nidhi Granites falling/rising?

As of 29-Aug, Nidhi Granites Ltd's stock price is currently at Rs. 294.00, reflecting a decrease of Rs. 6.0 or 2.0%. The stock opened with a gain of 2% today, reaching an intraday high of Rs. 306, but ultimately fell to a low of Rs. 294, marking a trend reversal after nine consecutive days of gains. Despite this decline, the stock has shown impressive performance over the past year, with an 80.37% return, and has outperformed the benchmark indices in both the short and long term. However, the stock's recent underperformance by 2.02% against its sector today and a significant drop in delivery volume by 63.45% compared to the five-day average may indicate waning investor interest. Additionally, while the company boasts strong management efficiency and low debt levels, the high valuation and increased proportion of pledged promoter shares could be contributing to the stock's downward pressure.
In the broader market context, Nidhi Granites has outperformed the Sensex over various periods, including a 28.05% return over the past month compared to a decline of 1.88% for the benchmark. This strong performance relative to the market highlights the company's resilience, even as it faces recent selling pressure. The stock's liquidity remains adequate, but the falling investor participation suggests caution among traders, potentially influenced by the overall market sentiment and the company's high valuation metrics.