Why is Waaree Energies falling/rising?

As of 16-Sep, Waaree Energies Ltd is currently priced at 3,579.65, reflecting a slight decline of 0.45 (-0.01%). The stock has been underperforming recently, having fallen consecutively for the last three days, resulting in a total decline of 4.27% during this period. Despite this short-term downturn, the stock has shown strong performance over the past week and month, with returns of 9.85% and 24.13%, respectively. The company has demonstrated robust long-term fundamentals, including a high average return on equity (ROE) of 23.17% and significant growth in net sales and operating profit. However, the stock's valuation appears expensive, which may be contributing to its recent price movement.
In the broader market context, Waaree Energies has outperformed the benchmark Sensex over the past week and month, with the Sensex returning only 1.58% and 2.21%, respectively. This indicates that while the stock has been strong in the longer term, its recent performance has not aligned with this trend, possibly due to falling investor participation, as indicated by a 29.82% drop in delivery volume compared to the five-day average. Additionally, while institutional investors have increased their stake, suggesting confidence in the company's fundamentals, the stock's recent price decline may reflect market corrections or profit-taking by investors after a period of strong growth.