Why is Redtape falling/rising?

As of 09-Jul, Redtape Ltd's stock price is currently at Rs 133.40, reflecting a decline of Rs 3.6 or 2.63%. The stock has been underperforming recently, having fallen for the last two consecutive days, resulting in a total drop of 5.15% during this period. Today's trading activity indicates that the stock touched an intraday low of Rs 133.25, with a weighted average price suggesting that more volume was traded closer to this low. Additionally, the stock's delivery volume has decreased significantly, falling by 47.98% compared to the five-day average, indicating a decline in investor participation. Over the past year, Redtape has generated a return of -25.84%, while its profits have only increased by 9%, contributing to a high PEG ratio of 5, which suggests that the stock may be overvalued.
In the broader market context, Redtape's short-term performance over the past week shows a return of +3.81%, which is significantly better than the Sensex's return of +0.15%. However, the stock has consistently underperformed against the benchmark over the last three years, with a notable decline of -38.93% year-to-date compared to the Sensex's gain of 6.91%. The company's high management efficiency, indicated by a ROCE of 20.25%, contrasts with its recent financial struggles, including the lowest ROCE at 18.78% in the first half and a concerning drop in profit before tax. This combination of factors suggests that while there are some positive aspects to the company's long-term growth potential, the immediate outlook remains negative, contributing to the stock's recent decline.