Why is Olectra Greentec falling/rising?

As of 03-Jul, Olectra Greentech Ltd's stock price is currently at 1,209.85, reflecting a decrease of 7.95 points or 0.65%. The stock has underperformed its sector by 0.27% today and has experienced a trend reversal after two consecutive days of gains. In terms of returns, the stock has shown a 1.69% increase over the past week, but it has declined by 2.05% over the past month and has a significant year-to-date drop of 16.36%. Despite the company reporting positive results for the last three consecutive quarters and strong growth in net sales and operating profit, the stock's valuation appears expensive with a high Price to Book Value ratio. Additionally, the falling investor participation, indicated by a 35.09% decrease in delivery volume, suggests a lack of confidence among investors.
Broader Market Context: In comparison to the benchmark Sensex, which has gained 3.10% over the past month and 6.53% year-to-date, Olectra Greentech's performance has been notably weaker, particularly with a year-over-year decline of 33.20% against the market's 4.07% increase. This underperformance, coupled with a low stake held by domestic mutual funds, may indicate a broader market sentiment that is cautious about the stock's current valuation and future prospects. Overall, while the company shows potential for long-term growth, the immediate market dynamics and valuation concerns are contributing to the stock's downward movement.