Why is Redington falling/rising?

As of 01-Aug, Redington Ltd's stock price is currently at 249.95, reflecting a decrease of 0.2, or 0.08%. The stock has been on a downward trend, having fallen consecutively for the last three days, resulting in a total decline of 13.45% during this period. Despite this recent downturn, the stock has shown strong long-term performance with a year-to-date increase of 25.07% and a one-year return of 22.05%. However, the company has reported a decline in profits, with a 6.7% drop over the past year, which may be contributing to the current price movement. The stock's performance today has outperformed its sector by 0.5%, and there has been a notable increase in investor participation, with delivery volume rising by 89.63% compared to the five-day average.
In the broader market context, the stock has significantly outperformed the benchmark Sensex, which has only returned -1.06% over the past week and -3.70% over the past month. While Redington's long-term fundamentals remain strong, with a low debt-to-EBITDA ratio and high return on capital employed, the recent flat results and declining profits may be causing some investor concern. Additionally, the stock is trading at a premium compared to its peers, which could also influence its price movement. Overall, despite its strong market position and institutional support, the recent performance and profit declines are likely contributing to the stock's current downward trend.