Why is Olectra Greentec falling/rising?

As of 14-Jul, Olectra Greentech Ltd's stock price is currently at 1,212.05, reflecting a decrease of 12.95 points or 1.06%. The stock has been underperforming, having fallen for the last two consecutive days, resulting in a total decline of 2.69%. In terms of returns, the stock has shown a modest increase of 1.09% over the past week, but it has significantly underperformed over the last year with a decline of 32.76%. Despite the company's strong financial performance, including a 55.14% annual growth in net sales and positive results for the last three quarters, the stock is perceived as expensive with a high Price to Book Value ratio of 9.5, which may deter investors. Additionally, the low participation from domestic mutual funds, holding only 0.46% of the company, suggests a lack of confidence in the stock's current valuation.
In the broader market context, while the Sensex has experienced a decline of 1.42% over the past week, Olectra Greentech's performance has been relatively better in that timeframe. However, the stock's year-to-date performance is notably poor, with a decline of 16.21% compared to the Sensex's gain of 5.27%. The automobile sector, specifically Trucks/LCVs, has seen a positive movement with a gain of 2.63%, indicating that the broader market may be experiencing some upward momentum, which Olectra Greentech is not capitalizing on. The falling investor participation and liquidity issues further compound the challenges facing the stock, contributing to its recent price decline.