Why is Vedant Fashions falling/rising?

As of 16-Sep, Vedant Fashions Ltd is currently priced at Rs 734.70, showing no change (0.00%). The stock has underperformed its sector by 1.02% today and is close to its 52-week low, being only 3.85% away from Rs 706.45. Over the past week, the stock has increased by 1.91%, but it has declined by 1.18% over the last month and has experienced a significant drop of 42.67% year-to-date. Despite having a high management efficiency indicated by a return on equity (ROE) of 30.19% and low debt levels, the company has shown poor long-term growth with net sales growing at only 6.75% annually over the last five years. The stock's valuation appears expensive compared to its peers, with a price-to-book value of 11.7, contributing to its recent struggles.
Broader market context indicates that while Vedant Fashions has seen a slight uptick in the short term, it has consistently underperformed against the benchmark, with a return of -43.27% over the past year compared to a -0.73% return for the Sensex. The stock's liquidity remains adequate for trading, but a notable decline in investor participation, with a 37.65% drop in delivery volume, suggests waning interest among investors. This combination of high institutional holdings and poor performance metrics has led to a cautious outlook for the stock, reinforcing its underperformance relative to the broader market.