Why is Waaree Energies falling/rising?

As of 11-Jul, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 3,112.35, which reflects a decrease of Rs 57.75 or 1.82%. Today's price summary indicates that the stock has underperformed its sector by 1.38% and has reversed its trend after three consecutive days of gains, touching an intraday low of Rs 3,070.1. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 4.53% and 7.92%, respectively. The company has strong long-term fundamentals, including a robust average return on equity of 23.17% and significant growth in net sales and operating profit. However, the stock's valuation appears expensive, which may be contributing to the recent price drop.
In the broader market context, while Waaree Energies has shown positive returns in the short term, the benchmark Sensex has declined by 1.12% over the past week and is nearly flat over the past month. This indicates that the stock's performance is relatively strong compared to the market, yet the recent price drop suggests that investor participation is waning, as evidenced by a 6.8% decrease in delivery volume. Additionally, while institutional investors have increased their stake, the overall market sentiment may be affecting the stock's price negatively.