Why is Websol Energy falling/rising?

As of 18-Nov, Websol Energy System Ltd is experiencing a decline in its stock price, currently at Rs 118.50, reflecting a decrease of Rs 8.05 or 6.36%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 12.22% during this period. It has also underperformed the sector by 4.34% today, with an intraday low of Rs 117.2. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite healthy long-term growth metrics, such as a 43.36% annual increase in net sales and a 160.63% rise in operating profit, the stock's valuation appears expensive with a high ROCE of 55.5 and a PEG ratio of 0.1. Additionally, 88.12% of promoter shares are pledged, which adds downward pressure in a falling market.
In the broader market context, the stock has significantly underperformed compared to the benchmark, with a one-year return of -7.83% against the BSE500's 8.30%. Over the past week and month, Websol Energy has also lagged, with returns of -7.16% and -3.36%, respectively, while the Sensex has shown positive movements of 0.96% and 0.86%. The renewable energy sector, in which Websol operates, has seen a decline of 2.03%, contributing to the stock's struggles. Although there has been a notable increase in investor participation, as indicated by a 219.06% rise in delivery volume, the overall market sentiment and the company's high valuation concerns are likely driving the stock's recent downward trajectory.