Why is Waaree Energies falling/rising?

As of 30-Oct, Waaree Energies Ltd is experiencing a decline in its stock price, currently at 3,431.25, which reflects a decrease of 46.1 points or 1.33%. The stock has underperformed its sector by 1.61% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 4.3% during this period. In terms of returns, the stock has shown a negative performance of 3.81% over the past week, although it has increased by 3.11% over the past month and has a strong year-to-date return of 20.19%. Despite its long-term positive fundamentals, including a robust average return on equity of 23.17% and significant growth in net sales, the stock's recent performance is being impacted by falling investor participation, as evidenced by a 47.88% drop in delivery volume compared to the five-day average.
In the broader market context, while Waaree Energies has outperformed the benchmark Sensex over the past year with a return of 40.85% compared to the Sensex's 5.58%, its short-term performance has been less favorable. The Sensex has only declined by 0.18% over the past week, indicating that the stock's recent struggles are not reflective of the overall market trend. The stock's higher valuation, indicated by a price-to-book ratio of 0.9, may also be contributing to investor caution, especially given its recent profit growth of 99% against a backdrop of a declining stock price.