Why is Balkrishna Inds falling/rising?

As of 22-Jul, Balkrishna Industries Ltd is experiencing a decline in its stock price, currently at 2,754.90, which reflects a decrease of 18.6 points or 0.67%. The stock has shown a trend reversal, falling after three consecutive days of gains. Despite this recent downturn, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock's performance over the past week has been positive, with a return of 3.15%, while it has outperformed the benchmark Sensex over the past month with a return of 14.31%. However, there has been a notable drop in investor participation, with delivery volume falling by 71.45% compared to the 5-day average. Additionally, while the company has high management efficiency and a strong ability to service debt, it faces challenges such as a high PEG ratio of 2.6 and consistent underperformance against benchmarks over the last three years.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has seen a slight decline of 0.47% over the past week. Although Balkrishna Industries has shown resilience in the short term, its year-to-date performance remains negative at -5.33%, while the Sensex has gained 5.18% in the same period. The stock's long-term underperformance, particularly with a return of -12.72% over the past year, raises concerns among investors, especially given its high valuation metrics compared to peers. This combination of factors contributes to the stock's current price movement, reflecting a complex interplay of positive management attributes and negative market sentiment.