Why is Vishal Mega Mart falling/rising?

As of 12-Aug, Vishal Mega Mart Ltd's stock price is currently at 140.00, reflecting a decrease of 2.05, or 1.44%. The stock has underperformed its sector today, with a performance decline of 2.94%. It reached an intraday low of Rs 138, indicating a drop of 2.85%. Over the past week, the stock has seen a decline of 4.60%, while it has performed positively over the past month with an increase of 4.83%. Despite a strong ability to service debt and healthy long-term growth in net sales and operating profit, the stock faces challenges due to flat results reported in March and a high valuation indicated by a 9.1 enterprise value to capital employed ratio. Additionally, a significant reduction in promoter confidence, with a 20.33% decrease in their stake, may be contributing to the stock's downward pressure.
In the broader market context, the Sensex has only declined by 0.59% over the past week, suggesting that Vishal Mega Mart's performance is lagging behind the benchmark. While the stock has shown a strong year-to-date return of 31.70%, the recent drop in investor participation, with delivery volume falling by 20.45% against the 5-day average, indicates a potential lack of interest among investors. This combination of underperformance relative to the benchmark and declining investor confidence may be contributing to the stock's current downward movement.