Why is Balkrishna Inds falling/rising?

As of 28-Aug, Balkrishna Industries Ltd is currently priced at 2,320.40, reflecting a decrease of 3.8 points or 0.16%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.23% over the past week. Additionally, it has shown a significant drop of 13.92% over the past month and 20.26% year-to-date. The stock is trading below all key moving averages, indicating a bearish trend. Despite a high management efficiency with a return on capital employed (ROCE) of 15.96% and strong institutional holdings at 35.34%, the company has reported negative financial results, including a 30.3% decline in profit after tax compared to the previous quarter's average. This combination of poor recent performance and disappointing financial metrics has contributed to the stock's downward movement.
In the broader market context, Balkrishna Industries has underperformed the benchmark Sensex, which has only declined by 2.34% over the past week. The stock's long-term performance is also concerning, with a return of -17.63% over the past year, contrasting sharply with the Sensex's decline of just 2.08%. The stock's valuation appears expensive relative to its peers, further exacerbated by its recent negative financial results. While there has been an increase in investor participation, as indicated by a significant rise in delivery volume, the overall sentiment remains negative due to the company's declining profitability and underperformance relative to both the market and its sector.