Why is Redington falling/rising?

As of 30-Jul, Redington Ltd's stock price is currently at 265.40, reflecting a decrease of 23.4 points or 8.1%. Today's price summary indicates that the stock has underperformed its sector by 3.76%, with an intraday low of Rs 264.5, showcasing high volatility with an intraday fluctuation of 5.68%. Over the past week, the stock has experienced a significant decline of 14.66%, and its performance over the past month shows a drop of 18.64%. Despite a strong long-term fundamental strength, including a 15.86% CAGR growth in operating profits and a low Debt to EBITDA ratio of 0.41 times, the stock's recent movement is negatively impacted by a 9.4% decrease in profits over the past year, leading to a premium valuation compared to peers.
In the broader market context, Redington's short-term performance has been notably worse than the benchmark Sensex, which has only declined by 1.50% over the same week. The IT - Hardware sector, in which Redington operates, has also seen a decline of 4.4%, contributing to the stock's downward pressure. Additionally, a decrease in delivery volume by 8.52% against the 5-day average suggests falling investor participation, which may further exacerbate the stock's decline. Despite high institutional holdings at 79.29%, indicating confidence from larger investors, the overall market sentiment and sector performance have negatively influenced Redington's stock price.