Why is Thermax falling/rising?

As of 25-Jul, Thermax Ltd. is experiencing a decline in its stock price, currently at Rs 3,744.00, which reflects a decrease of Rs 100.3 or 2.61%. The stock has underperformed its sector by 0.38% today and has been on a downward trend for the last three days, accumulating a total drop of 4.97%. Over the past week, the stock has decreased by 4.02%, while its performance over the last month shows a positive return of 8.81%. However, the stock's year-to-date return is down by 8.05%, and it has significantly underperformed over the past year with a decline of 24.45%. Factors contributing to this decline include a flat performance in the latest quarterly results, a high debt-equity ratio, and low debtor turnover, which suggest financial strain. Despite having a healthy long-term growth rate in operating profit and high institutional holdings, the stock's valuation appears expensive relative to its peers, further impacting investor sentiment.
In the broader market context, Thermax's recent performance contrasts sharply with the benchmark Sensex, which has only declined by 0.36% over the past week. While the engineering sector, to which Thermax belongs, has also seen a downturn of 2.21%, the company's significant drop in stock price indicates a more severe reaction from investors. The stock's liquidity has decreased, with a notable drop in delivery volume, suggesting waning investor interest. Overall, the combination of negative financial indicators and poor recent performance relative to both the sector and the broader market has contributed to the stock's current decline.