Why is Waaree Energies falling/rising?

As of 04-Jul, Waaree Energies Ltd is currently priced at 2,977.55, reflecting a decrease of 14.55 points or 0.49%. The stock has underperformed its sector today by 1.14%, despite being higher than its 20-day, 50-day, 100-day, and 200-day moving averages. However, it is lower than its 5-day moving average. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 57.95% against the 5-day average. Over the past week, the stock has gained 1.01%, while it has increased by 3.32% over the past month, indicating a relatively strong short-term performance compared to the Sensex, which has declined by 0.74% in the same period.
In terms of broader market context, while the stock has shown positive long-term fundamentals, including a strong average return on equity and healthy growth in net sales and operating profit, it faces challenges due to a high valuation and declining institutional investor participation. Institutional investors have reduced their stake by 0.94%, which could signal a lack of confidence in the stock's future performance. Despite the company's recent positive quarterly results, the overall sentiment may be tempered by these factors, contributing to the current price decline.