Why is PSP Projects falling/rising?

As of 17-Jul, PSP Projects Ltd is currently priced at Rs. 820.80, reflecting a decrease of Rs. 10.9 or 1.31%. The stock has recently hit a new 52-week high of Rs. 842.5 but has underperformed its sector by 2.27% today, following a trend reversal after three consecutive days of gains. Despite trading above its moving averages, the stock has experienced a decline in investor participation, with delivery volume falling by 9.68% against the 5-day average. Additionally, while the stock has shown strong performance over the past year with a return of 19.65%, this has occurred alongside a significant drop in profits of 54.1%, raising concerns about its long-term growth potential.
In the broader market context, PSP Projects has outperformed the benchmark Sensex in the short term, with a 1-week return of 8.16% compared to the Sensex's decline of 1.12%. However, the company's financial health is under scrutiny due to negative results over the last six quarters and a declining operating profit, which has grown at an annual rate of -8.25% over the past five years. The stock's high valuation, indicated by a Price to Book Value of 2.7, further complicates its attractiveness to investors, especially given its low return on equity of 4.7. These factors contribute to a cautious outlook for the stock despite its recent highs.