Why is Vedant Fashions falling/rising?

As of 18-Sep, Vedant Fashions Ltd is experiencing a decline in its stock price, currently at Rs 727.05, which represents a decrease of Rs 13.1 or 1.77%. The stock is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past week, the stock has underperformed the sector by 2.75%, and it is also close to its 52-week low, just 2.83% away from Rs 706.45. Despite high management efficiency reflected in a return on equity (ROE) of 30.19% and a low debt-to-equity ratio, the company has shown poor long-term growth, with net sales growing at an annual rate of only 6.75% and operating profit at 0.93% over the last five years. This, combined with a very expensive valuation indicated by a price-to-book value of 11.6, has contributed to the stock's recent struggles.
In the broader market context, Vedant Fashions has significantly underperformed against the benchmark, with a year-to-date return of -43.27% compared to the Sensex's gain of 6.24%. The stock's performance over the past month and year also reflects this trend, with declines of 5.29% and 42.79%, respectively, while the Sensex has posted positive returns during the same periods. This consistent underperformance against the benchmark, coupled with a high PEG ratio of 15.2, suggests that investors are wary of the stock's growth potential, leading to a lack of confidence and contributing to its downward price movement.