Why is Selan Expl. Tech falling/rising?

As of 08-Jul, Selan Explorations Technology Ltd is experiencing a decline in its stock price, currently at Rs 657.85, reflecting a decrease of Rs 29.0 or 4.22%. The stock has underperformed its sector today by 4.23% and has been on a downward trend for the last two days, accumulating a total loss of 7.08%. Despite reaching an intraday high of Rs 703.4, it also touched a low of Rs 654.5. Over the past week, the stock has decreased by 4.24%, while its year-to-date performance shows a significant decline of 20.11%. The company has reported a low Debt to Equity ratio and positive growth in net profit and sales, but it faces challenges such as an expensive valuation and falling institutional investor participation, which may be contributing to the recent price drop.
In the broader market context, the stock's short-term performance has been notably weaker than the benchmark, with the Sensex showing a slight increase of 0.02% over the same week. The stock has underperformed the market significantly over the past year, generating negative returns of 14.79% compared to the BSE500's positive return of 1.98%. This underperformance, coupled with a decrease in institutional investor stakes and a fair valuation compared to peers, indicates a lack of confidence among investors, further exacerbating the stock's decline.