Why is Thermax falling/rising?

As of 19-Sep, Thermax Ltd. is experiencing a slight decline in its stock price, currently at 3,328.75, reflecting a decrease of 1.25 or 0.04%. The stock's performance today is in line with the sector, and it is trading higher than its 5-day and 20-day moving averages, but lower than its 50-day, 100-day, and 200-day moving averages. Despite a recent increase in delivery volume by 9.91% against the 5-day average, the stock has underperformed significantly over the past year, with a return of -36.21%. Factors contributing to this decline include flat results in June, a high price-to-book value ratio indicating expensive valuation, and below-par performance in both the long-term and near-term metrics.
In the broader market context, the stock's short-term return of +0.56% over the past week is lower than the Sensex's return of +0.88%, indicating a relative underperformance. While Thermax has a strong institutional holding of 27.77% and a healthy long-term growth rate in operating profit, the company's recent financial metrics, such as a low debt-to-equity ratio and declining net sales, raise concerns among investors. The stock's significant decline over the past year, coupled with its inability to keep pace with the benchmark indices, suggests that investor sentiment remains cautious despite some positive indicators.