Why is Religare Enterp. falling/rising?

As of 14-Jul, Religare Enterprises Ltd is currently priced at 264.65, reflecting a decline of 5.8 points or 2.14%. The stock has recently underperformed its sector by 2.22% and has experienced a trend reversal, falling after four consecutive days of gains. Today, it reached an intraday high of Rs 276 but also touched a low of Rs 257.75. Despite this drop, the stock has shown strong performance over the past week with a return of 20.84%, and it has consistently traded above its moving averages. The company has demonstrated strong long-term fundamental strength, with a remarkable 94.85% compound annual growth rate in operating profits, and rising promoter confidence as they have increased their stake by 25.67%. However, the stock is facing challenges due to its expensive valuation, indicated by a low return on equity and a high price-to-book ratio.
In the broader market context, while Religare Enterprises has seen a significant increase in returns over the past three years, with a 112.66% rise, it has underperformed the benchmark Sensex in the year-to-date period, which has gained 5.27%. The stock's recent decline comes amidst a backdrop of mixed performance, as it has outperformed the benchmark in the last year but is currently experiencing volatility. The overall market sentiment may also be affecting its price, as evidenced by the stock's recent high trading volume at lower prices, suggesting a shift in investor sentiment.