Why is Va Tech Wabag falling/rising?

As of 02-Jul, Va Tech Wabag Ltd's stock is currently priced at 1,410.40, reflecting a decline of 11.6 points or 0.82%. The stock has been on a downward trend, losing 6.07% over the past week and 14.19% over the past month, while it has underperformed against the benchmark Sensex, which has gained 0.79% and 2.50% respectively during the same periods. Despite this recent decline, the company has shown strong fundamentals, including a low debt-to-equity ratio and significant cash reserves, with net sales and operating profit reaching their highest levels recently. However, the stock is trading below all its moving averages, indicating bearish sentiment. Additionally, while institutional holdings have increased, suggesting confidence from larger investors, the long-term growth prospects appear limited due to modest annual growth rates in net sales and operating profit over the last five years.
In the broader market context, Va Tech Wabag's recent performance contrasts sharply with the Sensex, which has shown positive returns in both the short term and year-to-date. The stock's consecutive five-day decline and significant underperformance over the last month highlight investor concerns, despite the company's solid financial metrics and consistent returns over the past three years. The rising investor participation, indicated by a substantial increase in delivery volume, may suggest some underlying interest; however, the overall market sentiment remains cautious, leading to the stock's current downward trajectory.