Why is Varun Beverages falling/rising?

As of 28-Aug, Varun Beverages Ltd is experiencing a decline in its stock price, currently at Rs 495.90, which reflects a decrease of Rs 12.55 or 2.47%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total decline of 4.22% during this period. The stock's performance today has also been noted as underperforming its sector by 0.79%. In terms of returns, the stock has shown a year-to-date decline of 22.33% and a one-year decline of 18.85%, despite a strong long-term performance over three and five years, where it increased by 142.36% and 647.86%, respectively. The company's fundamentals remain strong, with a healthy return on equity and consistent positive results over the last three quarters, but recent trading activity indicates falling investor participation, with delivery volume dropping significantly.
In the broader market context, Varun Beverages' short-term performance has been less favorable compared to the benchmark Sensex, which has declined by 2.34% over the past week while Varun has decreased by 4.15%. This underperformance may be attributed to the stock's recent liquidity issues and a higher trading volume closer to its intraday low, suggesting a lack of investor confidence. Despite the company's strong fundamentals and significant market presence, the recent trends in stock price and investor activity indicate a challenging environment for Varun Beverages, contributing to its current downward trajectory.