Why is Sumitomo Chemi. falling/rising?

As of 08-Aug, Sumitomo Chemical India Ltd is experiencing a decline in its stock price, currently at Rs 574.00, which reflects a decrease of Rs 13.0 or 2.21%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 9.93% during this period. Despite opening with a gain of 4.58% today and reaching an intraday high of Rs 613.9, it has faced significant volatility with a day’s low of Rs 572.45. The stock's performance over the past week shows a decline of 8.95%, contrasting with a positive return of 3.99% over the past month. While the company has demonstrated strong management efficiency and positive quarterly results, the stock is facing challenges such as a high valuation and poor long-term growth prospects, which may be contributing to the recent price drop.
In the broader market context, the stock's short-term performance has significantly underperformed the benchmark Sensex, which has only declined by 0.92% over the same week. Although Sumitomo Chemical has outperformed the market over the past year with a return of 12.80% compared to the Sensex's 1.23%, the recent downturn highlights investor concerns regarding its high valuation and relatively low growth in net sales and operating profit. The falling investor participation, as evidenced by a 77.1% drop in delivery volume, further indicates a lack of confidence among traders, which could be exacerbating the stock's current decline.