Why is Va Tech Wabag falling/rising?

As of 28-Jul, Va Tech Wabag Ltd's stock price is currently at Rs 1,584.00, reflecting a decrease of Rs 38.1 or 2.35%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 3.38% during this period. Today's trading activity indicates that the stock touched an intraday low of Rs 1,571.85 and has seen lower investor participation, with delivery volume down by 29.31% compared to the five-day average. Despite this recent downturn, the stock has shown positive performance over the past week and month, with returns of 4.31% and 6.43%, respectively. The company maintains a low debt-to-equity ratio and has reported strong financial metrics, including a high operating profit to interest ratio and significant cash reserves, which contribute to its fair valuation.
In the broader market context, while Va Tech Wabag has experienced a decline, it has outperformed the Sensex over the past week and month, which saw declines of 1.59% and 3.77%, respectively. This indicates that the stock's recent performance is relatively strong compared to the overall market. However, the stock's year-to-date performance is negative at -3.71%, contrasting with the Sensex's positive return of 3.52%. The high institutional holdings at 21.6% suggest confidence among larger investors, which may provide some support to the stock despite the recent price drop. Overall, while the stock has shown resilience in the long term, recent trends indicate a short-term struggle amidst declining investor participation and market volatility.