Why is Waaree Renewab. falling/rising?

As of 25-Aug, Waaree Renewable Technologies Ltd's stock is currently priced at Rs 1,048.50, reflecting a decrease of Rs 16.4 or 1.54%. Today's performance indicates that the stock has underperformed its sector by 1.5%, following a trend reversal after two consecutive days of gains. The stock touched an intraday low of Rs 1,040, which is a decline of 2.34%. Despite a strong historical performance with a 3.74% increase over the past week, the stock has seen a year-to-date decline of 21.92% and a one-year drop of 26.80%. The company's strong financial metrics, including a healthy EBIT to Interest ratio and significant growth in net sales and profits, contrast with its high valuation and underperformance relative to the market, which may contribute to the stock's current downward movement.
In the broader market context, while the Sensex has shown a modest increase of 0.45% over the past week, Waaree Renewable Technologies Ltd has lagged behind with its own 3.74% gain. However, the stock's one-year performance is notably worse than the broader market, which has only declined by 2.11%. The lack of domestic mutual fund investment, despite the company's positive financial results over the last 16 quarters, suggests a lack of confidence in the stock's current valuation, further impacting its price negatively. This combination of high valuation concerns, underperformance relative to the market, and cautious sentiment from institutional investors likely explains the recent decline in the stock's price.