Why is Balkrishna Inds falling/rising?

As of 28-Jul, Balkrishna Industries Ltd's stock price is currently at 2,695.50, reflecting an increase of 25.5 (0.96%). Today, the stock has shown a trend reversal by gaining after four consecutive days of decline, despite opening with a loss of 2.4%. It reached an intraday high of Rs 2738.45, indicating some recovery within the day. However, the stock's performance over the past week has been negative at -2.81%, and it has underperformed the benchmark Sensex, which declined by -1.59%. The company has a high management efficiency with a return on capital employed (ROCE) of 15.96% and a low debt to EBITDA ratio of 0.81, but it has also faced challenges, such as a significant drop in profit after tax (PAT) by -30.3% in the latest quarter, contributing to a year-over-year return of -17.87%.
In the broader market context, while Balkrishna Industries has outperformed its sector by 1.55% today, its longer-term performance has been concerning, with a year-to-date return of -7.37% compared to the Sensex's positive return of +3.52%. The stock has consistently underperformed against the benchmark over the last three years, which may contribute to investor caution. Additionally, a decline in delivery volume by -17.82% against the five-day average suggests falling investor participation, which could further pressure the stock price. Despite its strong institutional holdings at 35.34%, the overall sentiment appears mixed due to the recent negative financial results and the stock's expensive valuation relative to its peers.