Why is Waaree Energies falling/rising?

As of 14-Aug, Waaree Energies Ltd is experiencing a decline in its stock price, currently at Rs 2,883.80, reflecting a decrease of Rs 58.45 or 1.99%. The stock has underperformed its sector by 1.33% today and has been on a downward trend for the last three days, accumulating a total loss of 7.33%. The stock's performance over the past week shows a significant drop of 9.03%, while it has also decreased by 9.79% over the past month. Despite these short-term declines, the company has demonstrated strong long-term fundamentals, with a healthy return on equity and consistent growth in net sales and profits. However, the stock's valuation appears expensive, which may be contributing to the recent price drop.
In the broader market context, the Sensex has remained relatively stable, with only a slight decline of 0.03% over the past week and a 2.01% decrease over the past month. This indicates that Waaree Energies' recent performance is not aligned with the overall market trend, suggesting specific stock-related issues rather than a broader market downturn. The increase in institutional investor participation, which has risen by 2.38%, could provide some support for the stock in the long term, but the current price movement reflects investor concerns about its high valuation amidst recent performance challenges.