Why is Religare Enterp. falling/rising?

As of 01-Aug, Religare Enterprises Ltd is experiencing a decline in its stock price, currently at Rs 259.50, which reflects a decrease of Rs 9.5 or 3.53%. The stock has underperformed its sector by 2.05% today, touching an intraday low of Rs 258.55. Over the past week, the stock has decreased by 5.60%, while it has shown a positive return of 15.21% over the past month. Despite strong long-term fundamentals, including a significant growth in operating profits, the stock's recent performance is hampered by falling investor participation, with delivery volume dropping by 42.51% compared to the 5-day average. The stock is currently trading above its longer-term moving averages but below its 5-day moving average, indicating mixed signals in short-term trading.
In the broader market context, the Sensex has only declined by 1.06% over the past week, suggesting that Religare's recent performance is not solely a reflection of market conditions but also of company-specific issues. While the stock has generated a modest return of 3.86% over the past year, it has lagged behind the benchmark's performance, which has increased by 3.15% year-to-date. The stock's valuation appears expensive with a low return on equity and a high price-to-book ratio, which may deter investors despite its historical growth rates. Overall, the combination of declining trading volume, underperformance relative to the sector, and high valuation concerns contribute to the stock's current downward trajectory.