Why is AIA Engineering falling/rising?

As of 28-Jul, AIA Engineering Ltd's stock price is currently at 3,210.55, reflecting a decrease of 49.45 or 1.52%. The stock has been experiencing a downward trend, having fallen for the last three consecutive days, resulting in a total decline of 4.39% during this period. Additionally, AIA Engineering is trading below its moving averages across various time frames, indicating weak performance. The stock has underperformed significantly over the past year, with a return of -26.70%, while its net sales and operating profit growth have been modest at 7.54% and 12.43% respectively over the last five years. Despite having a high return on equity (ROE) of 15.46% and low debt-to-equity ratio, the stock is perceived as expensive with a price-to-book value of 4.4, which may deter potential investors.
In the broader market context, AIA Engineering's short-term performance has been relatively better than the benchmark, with a 1-week return of -3.91% compared to the Sensex's -1.59%. However, the stock's overall performance has been disappointing, particularly in the long term, where it has underperformed the BSE500 index over the last three years, one year, and three months. The rising investor participation, as indicated by a significant increase in delivery volume, suggests some interest, but the overall sentiment remains cautious due to the company's flat results and declining profits. This combination of factors contributes to the stock's current downward movement.