Why is Ashapura Minech. falling/rising?

As of 22-Jul, Ashapura Minechem Ltd's stock price is currently at 554.45, reflecting a decrease of 5.95, or 1.06%. The stock has been underperforming its sector, with a decline of 1.81% today, and it has experienced consecutive falls over the last two days, totaling a drop of 2.24%. Despite this recent downturn, the stock has shown strong performance over the past week and month, with returns of 4.25% and 34.56%, respectively. Additionally, the stock has been trading above its moving averages, indicating a generally positive trend over longer periods. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 52.30% and operating profit at 40.14%, contributing to a favorable PEG ratio of 0.4, suggesting it is undervalued compared to peers.
In the broader market context, Ashapura Minechem's recent performance contrasts with the Sensex, which has seen a slight decline of 0.47% over the past week and 0.27% over the past month. While the stock has outperformed the benchmark significantly over the past year and three years, its current short-term struggles may be attributed to recent profit-taking or market corrections. The stock's liquidity remains healthy, with increased delivery volumes, indicating continued investor interest despite the recent price drop. Overall, while the stock has shown strong historical returns, the recent price movement reflects a temporary setback in the context of a generally positive long-term outlook.