Why is Redington falling/rising?

As of 12-Aug, Redington Ltd's stock price is currently at 235.55, reflecting a decline of 7.15 points or 2.95%. Today's performance indicates that the stock has underperformed its sector by 1.57%, with an intraday low of Rs 234.2, marking a decrease of 3.5%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 57.63% compared to the 5-day average. Over the past week, the stock has decreased by 6.92%, while it has experienced a more substantial decline of 21.42% over the past month, despite a year-to-date return of 17.86%.
In the broader market context, the Sensex has only declined by 0.59% over the past week and 2.75% over the past month, indicating that Redington's recent performance is notably worse than the overall market. Although the company has strong long-term fundamentals, including a 17.15% CAGR growth in operating profits and high institutional holdings at 79.29%, it has faced challenges such as a 31.2% fall in profit before tax compared to the previous quarter average and a 22.91% decline in profit after tax over the last six months. These negative factors, combined with the stock's premium valuation compared to peers and declining profitability, have contributed to the recent downward pressure on Redington's stock price.