Why is Waaree Energies falling/rising?

As of 23-Sep, Waaree Energies Ltd's stock price is currently at 3,434.70, reflecting a decline of 19.75 points or 0.57%. The stock has been experiencing a downward trend, having fallen for the last two consecutive days, resulting in a total return of -2.68% during this period. Despite this recent decline, the stock has shown strong performance over the past month with a return of +7.73%, and it has outperformed the sector by 1.17% today. The company's fundamentals remain robust, with a strong long-term average Return on Equity (ROE) of 23.17% and significant growth in net sales and operating profit. However, there is a noted decrease in investor participation, as evidenced by a 32.71% drop in delivery volume compared to the five-day average, which may contribute to the stock's recent price decline.
In the broader market context, the stock's short-term performance has been weaker than the benchmark, with a one-week return of -4.05% compared to the Sensex's -0.34%. This indicates that while the stock has shown strong long-term fundamentals and institutional interest, its recent price movement is not aligned with the overall market trend. The company's high valuation, indicated by a Price to Book Value of 10.4, may also be a concern for investors, especially given the stock's flat return over the past year despite significant profit growth. Overall, while Waaree Energies has strong growth potential and institutional backing, the recent price decline can be attributed to falling investor participation and a weaker short-term performance relative to the market.