Why is Waaree Energies falling/rising?

As of 18-Jul, Waaree Energies Ltd's stock price is currently at Rs 3,121.65, reflecting a decrease of Rs 85.55 or 2.67%. The stock has been underperforming, having fallen for the last two days with a total decline of 5.07%. Today's performance indicates that it has underperformed its sector by 11.19%, and it reached an intraday low of Rs 3,110. Despite a positive long-term outlook characterized by strong fundamentals, including a robust return on equity and significant growth in net sales and operating profit, the stock's recent movement is negatively impacted by falling investor participation and lower trading volumes. Institutional investors have increased their stake, which suggests confidence in the company's long-term potential, but the current price action reflects short-term challenges.
In the broader market context, Waaree Energies has shown a 0.30% increase over the past week, while the benchmark Sensex has declined by 0.90%. Over the past month, the stock has outperformed the Sensex with a return of 15.68% compared to the index's 0.38%. However, the recent decline in price, coupled with a decrease in delivery volume and a higher valuation relative to its earnings, indicates that investors may be cautious despite the company's strong fundamentals. The renewable energy sector has seen gains of 8.49%, but Waaree's performance suggests that it is currently facing specific challenges that are affecting its stock price negatively.