Why is Z-Tech (India) falling/rising?

As of 29-Aug, Z-Tech (India) Ltd is currently priced at 513.50, reflecting a slight increase of 0.55 or 0.11%. The stock has shown a mixed performance recently, underperforming the market with a 1-week decline of 2.68% and a 1-month decline of 13.30%. However, it has outperformed its sector today by 1.21%. Despite trading below all key moving averages, the stock has seen a rise in investor participation, with delivery volume increasing by 2.44% compared to the 5-day average. The company has demonstrated strong financial health, with a low debt-to-equity ratio and impressive growth in net sales and operating profit, which has contributed positively to its stock performance over the past year, yielding a return of 49.69% against a market decline of 5.40%.
In the broader market context, Z-Tech's recent performance contrasts with the benchmark, as it has experienced significant declines in the short term while the Sensex has only fallen by 1.78% over the past week. The stock's high valuation, indicated by a Price to Book Value of 32.6, raises concerns despite its strong return on equity of 88.8. Additionally, the absence of domestic mutual fund investment may suggest a lack of confidence in the stock's current price, which could be influencing its trading dynamics. Overall, while Z-Tech has shown strong long-term growth and positive quarterly results, its recent price movements reflect a combination of market skepticism and valuation concerns.