Why is Thermax falling/rising?

As of 01-Aug, Thermax Ltd. is experiencing a decline in its stock price, currently at Rs 3,780.65, which reflects a decrease of Rs 130.85 or 3.35%. The stock has underperformed its sector by 1.25% today and has fallen after three consecutive days of gains, touching an intraday low of Rs 3,762.2. In terms of returns, the stock has shown a modest increase of 0.98% over the past week and a significant rise of 12.41% over the past month. However, it has a year-to-date decline of 7.15% and a substantial drop of 26.96% over the past year. The company maintains a low debt-to-equity ratio and has demonstrated healthy long-term growth with an annual operating profit increase of 20.94%. Additionally, high institutional holdings at 27.77% suggest a level of confidence from more knowledgeable investors.
In the broader market context, the Sensex has decreased by 1.06% over the past week and 3.70% over the past month, indicating that the market is facing some headwinds. Despite Thermax's recent positive performance relative to the benchmark in the short term, the overall market sentiment appears to be negative, contributing to the stock's current decline. The engineering sector, specifically industrial equipment, has also seen a drop of 2.13%, which may be impacting Thermax's performance. The rising investor participation, indicated by a significant increase in delivery volume, suggests that there is still interest in the stock, but the prevailing market conditions are overshadowing this positive aspect.