Why is Waaree Energies falling/rising?

As of 08-Aug, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 3,062.00, which reflects a decrease of Rs 108.0 or 3.41%. The stock has underperformed its sector by 1.9% today and has been on a consecutive downward trend for the past two days, resulting in a total decline of 4.85% during this period. Despite a strong long-term fundamental outlook, including a robust average Return on Equity (ROE) of 23.17% and significant growth in net sales and operating profit, the stock's recent performance has been negatively impacted by its high valuation metrics, such as a Price to Book Value of 9.3, which may deter some investors. Additionally, while there has been an increase in institutional investor participation, the stock's performance over the past year has been flat, generating a return of 0.00%.
In the broader market context, Waaree Energies' short-term performance has been less favorable compared to the benchmark Sensex, which has declined by 0.92% over the past week, while Waaree Energies has fallen by 1.35%. This indicates that the stock is not only struggling in its sector but also underperforming relative to the overall market. The liquidity of the stock remains adequate, with a delivery volume increase, suggesting some investor interest, but the recent price movements and the company's high valuation may be causing caution among potential buyers.