Why is Zaggle Prepaid falling/rising?

As of 12-Sep, Zaggle Prepaid Ocean Services Ltd is experiencing a decline in its stock price, currently at Rs 361.15, reflecting a decrease of Rs 7.2 or 1.95%. The stock has underperformed its sector by 2.15% today and has been on a downward trend for the last two days, accumulating a total drop of 3.89%. It has also touched an intraday low of Rs 359.3. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 15.1% compared to the 5-day average. Despite the company reporting healthy growth in net sales and operating profit, the stock's performance has been lackluster, with a year-to-date decline of 30.46% and a one-year return of -18.00%.
In the broader market context, Zaggle Prepaid's short-term performance has been significantly worse than the benchmark, with a one-week return of -5.06% compared to the Sensex's gain of 1.48%. This consistent underperformance against the benchmark over the last three years raises concerns among investors. Furthermore, institutional investors have reduced their stake in the company by 2.56% in the previous quarter, reflecting a lack of confidence in its future prospects. The stock's high valuation, indicated by a Price to Book Value of 3.9, combined with a relatively low return on equity of 7, suggests that it may be perceived as expensive despite its recent profit growth. This combination of factors contributes to the ongoing decline in Zaggle Prepaid's stock price.