Why is Vishal Mega Mart falling/rising?

As of 23-Jul, Vishal Mega Mart Ltd's stock price is currently at Rs. 140.90, reflecting a decrease of Rs. 1.2 or 0.84%. The stock has recently hit a new 52-week high of Rs. 143.4 but has underperformed its sector by 1.07% today, indicating a trend reversal after three consecutive days of gains. Despite trading above all key moving averages, the stock's performance over the past week shows a return of 2.36%, which is significantly better than the Sensex's 0.11%. However, the company's recent flat results in March and a high valuation, indicated by a ROCE of 12.9 and a 9.1 enterprise value to capital employed, may be contributing to the stock's current decline. Additionally, a notable reduction in promoter confidence, with a 20.33% decrease in their stake, raises concerns about the company's future prospects.
In the broader market context, Vishal Mega Mart's short-term performance of 2.36% over the past week outpaces the Sensex's modest gain of 0.11%. This suggests that while the stock has shown resilience compared to the benchmark, the recent drop in price may reflect investor caution amid concerns over valuation and promoter confidence. The company's strong ability to service debt and healthy long-term growth rates in net sales and operating profit provide a positive backdrop, but the recent decline in stock price highlights the market's sensitivity to changes in investor sentiment and company performance indicators.