Why is Sanathan Textile falling/rising?

As of 28-Aug, Sanathan Textiles Ltd is experiencing a decline in its stock price, currently at Rs 501.60, which reflects a decrease of Rs 3.75 or 0.74%. The stock has been underperforming, having fallen for the last three days with a total decline of 2.15%. It opened significantly lower today, down by 6.01%, and reached an intraday low of Rs 475. Despite this recent downturn, the stock has shown strong performance year-to-date with a return of 36.94%, contrasting with the Sensex's modest gain of 2.48%. The company maintains a low debt-to-equity ratio of 0.06 and an attractive valuation with a return on equity of 9.5 and a price-to-book value of 2.3, which may support its long-term prospects. Additionally, institutional investors have increased their stake, indicating confidence in the company's fundamentals.
In the broader market context, the stock's short-term performance has been less favorable compared to the benchmark Sensex, which has declined by 2.34% over the past week while Sanathan Textiles has only fallen by 0.38%. This relative underperformance may be contributing to investor sentiment, as the stock has opened lower and has been losing momentum. However, the significant increase in delivery volume suggests rising investor participation, which could provide some support for the stock moving forward. Overall, while the stock has shown strong year-to-date performance, recent price movements and market conditions indicate a challenging short-term outlook.