Why is Voltas falling/rising?

As of 24-Sep, Voltas Ltd. is experiencing a decline in its stock price, currently at 1,364.40, which reflects a decrease of 8.0 points or 0.58%. The stock has been underperforming recently, having fallen for four consecutive days, resulting in a total drop of 4.15% during this period. In terms of returns, the stock has decreased by 3.34% over the past week and 28.73% over the past year, significantly underperforming the broader market, which has seen a decline of only 3.77% in the same timeframe. Additionally, the stock's delivery volume has decreased by 35.36% compared to its five-day average, indicating falling investor participation. The company's low debt-to-equity ratio and high institutional holdings suggest some stability, but the recent financial performance, including a 44.3% drop in profit before tax and a 33.2% decline in profit after tax compared to previous quarters, raises concerns about its valuation.
In the broader market context, Voltas' short-term performance has been notably weaker than the benchmark, with a 1-week return of -3.34% compared to the Sensex's -1.18%. This underperformance is compounded by the company's expensive valuation, as indicated by a price-to-book value of 6.9, despite a PEG ratio of 1.7 suggesting that profits have increased. The stock's operating profit to net sales ratio is at its lowest, further contributing to the negative sentiment surrounding it. Overall, the combination of declining financial metrics, reduced investor interest, and a significant drop in stock price relative to the market has led to a bearish outlook for Voltas Ltd.