Why is Redington falling/rising?

As of 08-Aug, Redington Ltd's stock price is currently at 240.10, reflecting a decrease of 3.1 points or 1.27%. The stock opened with a loss of 2.24% today and reached an intraday low of Rs 236.75, indicating a downward trend. In the past week, the stock has declined by 3.94%, and over the last month, it has experienced a significant drop of 21.83%. Despite its strong long-term fundamentals, including a 17.15% CAGR growth in operating profits and a high return on capital employed, the stock's recent performance has been negatively impacted by a 6.7% decline in profits over the past year. Additionally, the delivery volume has fallen by 51.81% compared to the five-day average, suggesting reduced investor participation.
In the broader market context, while the stock has outperformed the benchmark Sensex over the past year with a return of 27.34% compared to the Sensex's 1.23%, its recent short-term performance contrasts sharply with the benchmark, which has only declined by 0.92% in the last week. This indicates that while Redington has shown strong long-term potential, its recent price movement is not aligned with the overall market trend, reflecting investor concerns over flat results in the latest quarter and a decrease in profitability. The stock's premium valuation compared to peers and high institutional holdings may provide some support, but the current downward momentum suggests caution among investors.