Why is Rajoo Engineers falling/rising?

As of 22-Jul, Rajoo Engineers Ltd is experiencing a decline in its stock price, currently at 134.10, which represents a decrease of 4.35 or 3.14%. The stock has underperformed its sector by 1.82% today and has fallen after two consecutive days of gains. It opened with a loss of 2.2% and reached an intraday low of Rs 131.85, reflecting a drop of 4.77%. Over the past week, the stock has decreased by 6.58%, while it has shown a positive return of 14.71% over the past month. Despite the company's strong long-term growth indicators, such as a 106.20% annual growth in operating profit and consistent positive results over the last nine quarters, the stock's valuation appears expensive with a Price to Book Value of 13.5, contributing to its recent price decline.
Broader market context indicates that Rajoo Engineers has significantly underperformed compared to the benchmark, with a one-year return of -32.77% against a market return of 2.09%. This stark contrast suggests that investor sentiment towards the stock is weak, as evidenced by a notable decrease in delivery volume by 22.75% against the five-day average. Additionally, the low stake held by domestic mutual funds, at only 0.01%, may reflect a lack of confidence in the stock's current valuation and future prospects. Overall, while the company has demonstrated strong growth metrics, the combination of high valuation, underperformance relative to the market, and declining investor participation has led to the stock's recent downward movement.