Why is Redington falling/rising?

As of 18-Aug, Redington Ltd's stock price is currently at 240.05, reflecting an increase of 3.05, or 1.29%. Despite this positive movement today, the stock has underperformed its sector by 0.38% and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has declined by 1.09%, and it has experienced a significant drop of 22.74% over the past month. While the company shows strong long-term fundamentals, such as a 17.15% CAGR growth in operating profits and a low Debt to EBITDA ratio of 0.41 times, recent financial results indicate challenges, including a 31.2% decline in profit before tax compared to the previous quarter's average and a 22.91% decrease in profit after tax over the last six months.
In the broader market context, the Sensex has gained 0.83% over the past week, contrasting with Redington's recent decline. Although the stock has outperformed the market over the past year with an 18.48% return compared to the BSE500's negative return of 1.14%, the recent performance indicates a divergence from the overall market trend. High institutional holdings at 79.29% suggest confidence from larger investors, but the falling investor participation and liquidity issues may be contributing to the stock's recent struggles. Overall, while Redington has strong fundamentals and a significant market presence, recent financial performance and market conditions appear to be weighing on its stock price.