Why is Olectra Greentec falling/rising?

As of 31-Jul, Olectra Greentech Ltd's stock price is currently at 1,410.95, reflecting a decrease of 8.8 points or 0.62%. The stock has been on a downward trend, having fallen consecutively for the last five days, resulting in an overall decline of 8.1% during this period. Today, it opened with a significant loss of 4.02%, reaching an intraday low of Rs 1,362.7. Although it touched a high of Rs 1,450, the stock's performance has been underwhelming, with a year-to-date return of -2.46% and a one-year return of -17.46%. Despite the company's positive financial indicators, such as a low debt-to-equity ratio and strong growth in net sales and operating profit, the stock's high valuation relative to its peers and low domestic mutual fund ownership suggest investor caution.
In the broader market context, Olectra Greentech's recent performance has been notably worse than the benchmark, with the Sensex only declining by 1.22% over the past week while Olectra's stock fell by 8.1%. This underperformance is further highlighted by the company's negative return of -17.46% over the past year compared to the Sensex's decline of just 0.68%. The stock's liquidity appears adequate for trading, but the significant drop in delivery volume by 82.06% indicates a lack of investor confidence. Overall, while the company shows potential for long-term growth, the current market sentiment and valuation concerns are contributing to the stock's decline.