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

As of 18-Sep, Z-Tech (India) Ltd is currently priced at 610.75, reflecting a decline of 7.6 points or 1.23%. Today's performance indicates that the stock has underperformed its sector by 1.63%. Despite this decline, Z-Tech has shown strong returns over various periods, including a 1-week increase of 1.95% and a remarkable 82.72% rise over the past year. The company has demonstrated healthy growth metrics, with net sales increasing at an annual rate of 45.50% and operating profit soaring by 204.13%. However, the stock's high valuation, indicated by a Price to Book Value of 38.5, raises concerns among investors, especially given the lack of domestic mutual fund investment, which may suggest hesitance at current price levels.
Broader market context reveals that while Z-Tech has outperformed the broader market, which has seen negative returns of -1.96% over the last year, its recent price drop could be attributed to falling investor participation, as evidenced by a significant decrease in delivery volume. The stock is trading above its moving averages, indicating a generally positive trend, yet the current decline may reflect market corrections or profit-taking after substantial gains. Overall, while Z-Tech has a strong growth trajectory and has consistently delivered positive results, its high valuation and reduced investor engagement could be contributing factors to the recent price movement.