Why is Trent falling/rising?

As of 26-Aug, Trent Ltd. is experiencing a decline in its stock price, currently at Rs 5,292.60, which reflects a decrease of Rs 133.0 or 2.45%. Today's performance indicates that the stock has underperformed its sector by 2.27%, with an intraday low of Rs 5,272.75, marking a drop of 2.82%. Over the past week, the stock has fallen by 3.73%, while it has shown a modest gain of 4.99% over the past month. Despite positive long-term growth indicators, such as a high return on equity (ROE) of 15.22% and significant increases in net sales and operating profit, the stock's recent performance is hindered by a very expensive valuation and a high PEG ratio of 4.6, which suggests that it may be overvalued relative to its earnings growth.
In the broader market context, Trent's performance has been notably weaker than the benchmark, as it has underperformed the BSE500 index, which recorded a negative return of 3.87% over the past year, compared to Trent's decline of 23.57%. This stark contrast highlights the challenges the company faces in attracting investor confidence, especially given the falling investor participation, evidenced by a 10.09% decrease in delivery volume compared to the five-day average. While the company maintains high institutional holdings at 36.93%, which typically indicates strong fundamentals, the overall market sentiment and the company's recent stock performance suggest a cautious outlook for investors.