Why is Rajoo Engineers falling/rising?

As of 03-Jul, Rajoo Engineers Ltd is currently priced at 108.10, reflecting a slight increase of 0.25 (0.23%). Despite this minor uptick, the stock has shown a significant decline over the past week, down 6.45%, and a more substantial drop of 13.55% over the past month. The stock is trading below all its moving averages, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 32.51% compared to the five-day average. While the company has reported strong long-term growth with a 121.28% increase in net profit and positive results for the last eight consecutive quarters, its high valuation metrics, such as a Price to Book Value of 10.9, suggest that it may be considered expensive relative to its peers, contributing to the stock's underperformance.
In the broader market context, Rajoo Engineers has underperformed significantly compared to the benchmark, with a one-year return of -28.15% against the BSE500's 2.20% gain. This stark contrast highlights the challenges the company faces in attracting investor confidence despite its healthy operational growth. The stock's recent performance, combined with its declining investor participation and high valuation, suggests that market sentiment remains cautious, leading to its continued struggles in the current trading environment.