Why is Redington falling/rising?

As of 24-Sep, Redington Ltd's stock price is currently at Rs 274.75, reflecting a decline of Rs 10.4 or 3.65%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 8.26% during this period. Today's trading saw the stock reach an intraday low of Rs 272.95, and the volume traded was significantly lower than the average, indicating reduced investor participation. Over the past week, the stock has decreased by 6.02%, although it has shown strong performance over the longer term with a 46.26% increase over the past year. Despite the stock's strong fundamentals, including a solid long-term growth rate in operating profits and high institutional holdings, recent profit declines and flat results have negatively impacted investor sentiment.
In the broader market context, the Sensex has only fallen by 1.18% over the past week, indicating that Redington's short-term performance is significantly lagging behind the benchmark. The IT - Hardware sector, in which Redington operates, has also seen a decline of 2.7%, contributing to the stock's downward pressure. While Redington has outperformed the market over the past year, the recent negative trends in both its performance and the sector suggest a cautious outlook among investors, especially given the substantial drop in delivery volumes and the company's recent profit challenges.