Why is Religare Enterp. falling/rising?

As of 24-Jun, Religare Enterprises Ltd is experiencing a decline in its stock price, currently at 223.05, which reflects a decrease of 0.6 or 0.27%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 4.68% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a strong long-term fundamental strength indicated by a 94.85% CAGR growth in operating profits and increased promoter confidence with a 25.67% stake, the stock's performance over the past week, month, and year has been negative, with returns of -3.02%, -6.73%, and -6.34%, respectively.
In the broader market context, while the Sensex has shown a slight increase of 0.58% over the past week, Religare's performance has lagged significantly. The stock's decline is compounded by its expensive valuation, reflected in a low return on equity of 5 and a price-to-book value of 2.9, which may deter investors despite the company's strong profit growth. The stock's negative returns over the past year, despite a substantial increase in profits, suggest that market sentiment remains cautious, leading to its current downward trajectory.