Why is Religare Enterp. falling/rising?

As of 04-Jul, Religare Enterprises Ltd is currently priced at 221.90, reflecting a decrease of 0.4, or 0.18%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 1.6% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock's performance over the past week shows a decline of 0.78%, while it has underperformed the Sensex, which has seen a slight decrease of 0.74%. Despite strong long-term fundamentals, including a significant growth in operating profits and increased promoter confidence with a 25.67% stake, the stock's recent performance is hindered by its expensive valuation and a low return on equity of 5.
In the broader market context, Religare Enterprises Ltd has underperformed compared to the benchmark indices over various time frames. Over the past month, the stock has declined by 2.76%, while the Sensex has gained 3.01%. Year-to-date, the stock has experienced a substantial drop of 19.27%, contrasting sharply with the Sensex's increase of 6.77%. This underperformance is compounded by a notable decrease in investor participation, with delivery volumes falling by 29.46% against the 5-day average. Overall, while the company shows strong long-term potential, the current market sentiment and performance metrics suggest a challenging environment for the stock in the short term.