Why is Redington falling/rising?

As of 29-Aug, Redington Ltd's stock price is currently at Rs 240.90, reflecting an increase of Rs 5.9 or 2.51%. The stock has been gaining for the last two days, with a total return of 3.17% during this period. Despite this recent uptick, the stock has underperformed in the short term, showing a decline of 1.13% over the past week and 16.59% over the past month. It is noteworthy that the stock is trading below its moving averages across various time frames, indicating potential weakness. However, the company demonstrates strong long-term fundamentals, including a 17.15% CAGR growth in operating profits and a low Debt to EBITDA ratio of 0.41 times, which supports its ability to service debt. Additionally, high institutional holdings at 79.29% suggest confidence from larger investors, although the stock's profits have recently fallen by 6.7%.
In the broader market context, Redington's performance has been relatively strong compared to the benchmark, as it has generated a return of 20.00% over the past year, while the Sensex has declined by 2.83%. This indicates that despite recent challenges, the stock has outperformed the market significantly. However, the overall market has faced negative returns, with the BSE500 down by 5.40% in the last year, which may contribute to cautious investor sentiment. The falling investor participation, as evidenced by a significant drop in delivery volume, could also be a factor influencing the stock's price movement.