Why is Waaree Energies falling/rising?

As of 05-Sep, Waaree Energies Ltd is experiencing a slight increase in its stock price, currently at 3,215.40, reflecting a change of 14.5 (0.45%) upwards. Despite this positive movement today, the stock has underperformed its sector by 0.38%. Over the past week, the stock has seen a decline of 5.51%, although it has gained 5.24% over the past month and 12.63% year-to-date. The stock's performance is bolstered by strong long-term fundamentals, including a high average Return on Equity (ROE) of 23.17%, significant growth in net sales and operating profit, and a low debt-to-equity ratio. Additionally, institutional investors have increased their stake, indicating confidence in the company's prospects. However, the stock's valuation is considered expensive, with a Price to Book Value of 9.8, which may pose a risk to its price stability.
In the broader market context, the Sensex has shown a positive return of 1.13% over the past week, contrasting with Waaree Energies' decline during the same period. While the stock has outperformed the benchmark over the longer term, with a 5.24% gain in the last month compared to the Sensex's flat performance, the recent drop in delivery volume by 66.57% against the 5-day average suggests a decrease in investor participation, which could impact future price movements. Overall, while the stock has shown resilience in the face of broader market trends, the combination of high valuation and reduced trading activity may contribute to cautious sentiment among investors.