Why is Waaree Energies falling/rising?

As of 01-Jul, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 3,062.00, which reflects a decrease of Rs 76.7 or 2.44%. Today's price summary indicates that the stock has underperformed its sector by 1.67% and has fallen after three consecutive days of gains. The stock reached an intraday low of Rs 3,040.85, marking a decrease of 3.12%. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 2.99% and 2.85%, respectively. The company has strong long-term fundamentals, including a high return on equity (ROE) of 23.17% and significant growth in net sales and operating profit. However, the stock's valuation is considered expensive, and there has been a slight decrease in institutional investor participation, which may contribute to the recent price decline.
In the broader market context, Waaree Energies' short-term performance has outpaced the benchmark Sensex over the past week and month, with the stock returning 2.99% compared to the Sensex's 2.00% and 2.76%, respectively. This indicates that while the stock is currently facing a decline, it has been performing relatively well compared to the overall market in the short term. The liquidity of the stock remains adequate, with a significant increase in delivery volume, suggesting ongoing interest from retail investors despite the recent price drop.