Why is Varun Beverages falling/rising?

As of 04-Sep, Varun Beverages Ltd is experiencing a decline in its stock price, currently at Rs 490.95, which reflects a decrease of Rs 14.2 or 2.81%. Today's price summary indicates that the stock underperformed its sector by 0.57% and opened with a loss of 2.59%. It reached an intraday low of Rs 488.1, showing a drop of 3.38%. Over the past week, the stock has declined by 1.00%, and year-to-date, it has fallen by 23.10%. Despite strong long-term fundamentals, including a healthy return on equity and consistent positive results over the last three quarters, the stock has faced recent selling pressure, as indicated by a decrease in delivery volume and a trend reversal after three days of gains.
In the broader market context, the Sensex has shown a positive return of 0.80% over the past week, contrasting with Varun Beverages' decline. The brewery and distillery sector has also seen a downturn, with a drop of 2.24%. This sector-wide decline, coupled with falling investor participation, has likely contributed to the stock's recent performance. Although Varun Beverages has a significant market cap and strong institutional holdings, the current market sentiment appears to be affecting its stock negatively, leading to its underperformance relative to the benchmark.