Why is Varun Beverages falling/rising?

As of 13-Aug, Varun Beverages Ltd is experiencing a decline in its stock price, currently at 510.90, which reflects a decrease of 3.6 points or 0.7%. Today's price summary indicates that the stock has underperformed its sector by 0.39% and has fallen after two consecutive days of gains. Despite a strong long-term fundamental strength, highlighted by a robust average Return on Equity (ROE) of 22.82% and significant growth in net sales and operating profit, the stock's recent performance has been affected by a decrease in investor participation, as evidenced by a 0.66% drop in delivery volume compared to the five-day average. Additionally, while the stock has shown positive returns over the past week and month, it remains down 19.98% year-to-date and 14.34% over the past year, indicating a challenging environment despite its strong fundamentals.
In the broader market context, Varun Beverages has outperformed the Sensex over the past week and month, with returns of 2.35% and 12.97%, respectively, while the Sensex has remained nearly flat and down 2.38% over the same periods. This suggests that while the stock has shown resilience in the short term compared to the benchmark, the overall year-to-date performance reflects broader market challenges. The high institutional holdings at 32.38% may provide some stability, but the recent decline in stock price indicates that investor sentiment may be cautious, particularly in light of the recent drop in trading volume and the stock's performance relative to its moving averages.