Why is Virat Industries falling/rising?

As of 29-Jul, Virat Industries Ltd's stock price is currently at Rs 594.00, reflecting a decrease of Rs 13.95, or 2.29%. Today's price summary indicates that the stock has underperformed its sector by 2.93% and has experienced a trend reversal after four consecutive days of gains. The stock reached an intraday high of Rs 621 but fell to a low of Rs 591.15, with more volume traded closer to the low price. Despite a strong performance over the past year, with a return of 267.23%, the company faces challenges such as weak long-term fundamental strength, a declining operating profit growth rate, and a high price-to-book value compared to peers, which may contribute to the recent price decline.
In the broader market context, Virat Industries has outperformed the Sensex over various periods, including a 1-week return of 2.24% compared to the benchmark's -1.03%. However, the stock's recent drop may be influenced by falling investor participation, as indicated by a decline in delivery volume. While the stock has shown strong long-term performance, the current market sentiment appears to be cautious due to the company's weak fundamentals and high valuation metrics, which could be impacting investor confidence and leading to the recent price decrease.