Why is Waaree Energies falling/rising?

As of 07-Jul, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 2,920.05, which reflects a decrease of Rs 57.5 or 1.93%. The stock has underperformed its sector by 1.68% today and has been on a downward trend for the last two days, accumulating a total loss of 2.41% during this period. Additionally, the stock's performance over the past week shows a decline of 6.97%, while it has increased by 3.23% over the past month. Despite strong long-term fundamentals, including a high return on equity and significant growth in net sales and operating profit, the stock's valuation appears expensive, which may be contributing to the recent price drop. Furthermore, there has been a notable decrease in investor participation, particularly from institutional investors, which could be impacting market sentiment negatively.
In the broader market context, the Sensex has only declined by 0.20% over the past week, indicating that Waaree Energies' short-term performance is significantly worse than the benchmark. While the stock has shown positive growth over the longer term, with a year-to-date increase of 2.29%, the recent underperformance relative to both the sector and the benchmark suggests that investors may be reacting to the falling participation and high valuation concerns. This divergence from the overall market trend could be a factor in the stock's current decline.