Why is Rishabh Instrum. falling/rising?

As of 02-Sep, Rishabh Instruments Ltd is currently priced at Rs 437.55, reflecting a decrease of Rs 3.6 or 0.82%. The stock has recently underperformed its sector by 1.1% and has experienced a trend reversal after two consecutive days of gains, touching an intraday low of Rs 432.2. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 6.59% and 52.32%, respectively. The company has reported impressive growth in net profit and other financial metrics, but it also faces challenges such as low management efficiency, indicated by a return on equity of only 3.69%, and a high price-to-book ratio, suggesting it may be overvalued compared to peers.
In the broader market context, Rishabh Instruments has outperformed the benchmark Sensex, which has seen a decline of 0.78% over the past week and 0.55% over the past month. While the stock has generated an 18.19% return over the past year, the overall market has struggled, with the BSE500 index down by 4.82%. However, the recent decrease in institutional investor participation, which has fallen by 0.78%, may signal a lack of confidence among more sophisticated investors, potentially contributing to the stock's current downward movement.